Employee Benefits
AG EB ONLINE
Published on 31/10/2018
SHARE
When should supplementary pension benefits be claimed?
According to the legislation currently in force, supplementary pension benefits must now be paid out when plan participants collect their statutory retirement benefits. Other than in a few exceptional cases, your staff members will no longer be able to cash out on their supplementary pension before they reach their statutory retirement date.
According to the legislation currently in force, supplementary pension benefits must now be paid out when plan participants collect their statutory retirement benefits. Other than in a few exceptional cases, your staff members will no longer be able to cash out on their supplementary pension before they reach their statutory retirement date.
AG Employee Benefits has since modified its payout procedure in order to comply with the law.
What exactly has changed?
You no longer have to take the initiative to notify us when your staff members are ready to collect their supplementary pension benefits. Each time someone retires, we will take the necessary steps based on the information we receive from DB2P, the supplementary pensions database.
If your staff member is nearing statutory retirement age, we will automatically extend the pension plan contract until the statutory retirement date.
What does this mean for you in practical terms?
With this amended procedure, you can now sit back and wait until we receive your staff member’s statutory retirement date from DB2P.
This also means that you will receive fewer e-mails and other correspondence from us, which will reduce your administrative burden.
Of course, if you have any questions, your administrative contact person at AG Employee Benefits will be happy to assist you.
