About to retire

Defined benefit

The amount of your pension income is now clear. However, you still have a few choices to make. Discover your options.

What are your retirement options?

Do you have a pension scheme with a defined benefit? Then the amount of your pension income is already known. However, you can still make choices regarding your pension, depending on the terms of your pension scheme.

This is what you need to know

You make your own retirement decisions, or you can do it with the help of an adviser. Before making any decisions, always check your Uniform Benefit Statement (UBS). You can find this in MijnZwitserleven under Documents. The UBS shows key features like the amount of pension you'll receive when you retire.

This is what you can expect

You will receive a letter or an email from us six months before your retirement date. We will then ask you to make choices for your pension income in MijnZwitserleven. First, you'll explore the options. When it's time to make a final decision, we'll send you a reminder. Once you've made your choices and informed us, we'll take care of the rest.

When your retirement date arrives, you'll receive pension income based on your choices. If you haven't made any choices, you'll get the default pension currently shown in MijnZwitserleven. Depending on the pension scheme, your pension income will be paid monthly or quarterly. You can find this information in the pension commencement letter. How we pay out, monthly or quarterly, is determined in your pension scheme rules.

These are your choices

You can tailor your pension income to fit your personal circumstances. Depending on the pension scheme rules, you have certain options. Review these and then indicate your choices to us in MijnZwitserleven.
We recommend seeking advice on this matter. Below you will find the most common choices.

Choosing your retirement date: Retiring early or retiring later

Do you want to start receiving your pension on the set retirement date? Or do you prefer to start drawing your pension earlier or later?

Arranging partner’s pension for your partner

Do you have a partner? You may opt for your spouse to receive a lifelong pension after your passing.

A temporary higher pension income.

A temporary higher pension to cover, for example, mortgage payments, travel to far-off destinations, or a gap before state pension payments begin.

Lump sum withdrawal: not yet determined.

You might have already heard about it: taking a lump sum withdrawal. The exact conditions are not yet known. However, it might become possible to withdraw 10% of your pension capital in one go.

Commuting a small pension.

You can commute a small pension that yields a maximum of €594.89 gross per year on your retirement date.

Received questionnaire?

Did you receive a questionnaire? If so, you won't be able to make selections in MijnZwitserleven. Please indicate your choices on the form. Use the button below to easily upload the completed form.

Upload questionnaire

Useful tools

Could you use some assistance with these options? Then take advantage of our handy tools.

When do you want to retire?

State pension
Pension

62
AOW leeftijd
72

Opt for a partner's pension or not?

State pension
Pension

Your pension income
Partner's pension income

Would you like to temporarily increase your pension?

State pension
Pension

62
AOW leeftijd
72

Need help with this choice?

Consult an independent financial adviser. Get assistance with your decisions.

Find an adviser

Kimberly, 65 years old

“I found it quite complex, all those options. But with an adviser, I figured it out quickly!”

Useful links

Video: Retiring earlier or later

Know what's going on

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