What has been arranged for you?
The Balanced Pension Plan always includes certain arrangements on your behalf. It is up to your employer whether any additional arrangements apply to you. Your pension introductory letter will tell you which arrangements apply to you. We sent you the pension introductory letter when you joined the pension scheme.
Old-age pension for yourself
Old-age pension is the pension that you receive from your retirement date for the rest of your life. The amount of old-age pension you will receive through Delta Lloyd is shown on your Uniform Pension Statement (UPS).
Partner’s pension, if applicable
Under certain conditions a pension has been arranged for your partner in addition to the old-age pension for yourself. The partner’s pension will be paid out to your partner if you die. Your partner will receive this benefit from your date of death for the rest of his or her life. The amount of partner’s pension is shown on your Uniform Pension Statement (UPS).
Orphan’s pension will be paid out to your children if you die. An orphan’s pension stops when the child reaches age 18. Different rules apply if your child has a disability or is still in education. You will find more information in your pension introductory letter.
Waiver of contribution in the event of occupational disability
What if you become chronically ill and are then classified as occupationally disabled? If this leaves you less able to work, if at all, then under certain conditions Delta Lloyd will pay your pension contributions instead of your employer. You will then continue to be a member of the Balanced Pension Plan even if you are fully or partially occupationally disabled.
If you become occupationally disabled you will be eligible for benefit under the Work and Income Act. Your annual salary is taken into account in calculating this benefit, but only up to about € 51,500. If you earn more than this and you become occupationally disabled, then there is a risk that your income could fall. Your employer may have chosen to arrange a disability pension for you. You might then receive a benefit from Delta Lloyd in addition to the benefit under the Work and Income Act, which is paid by the Employee Insurance Agency (UVW). We call this the disability pension. Your pension introductory letter will tell you whether your employer has arranged a disability pension for you.
Surviving Dependants Act shortfall pension
State-provided surviving dependants pension
The Dutch state provides a pension under the Surviving Dependants Act. This is usually referred to as the Anw, and it is one of the basic pension benefits in the Netherlands. If you die your partner, if you have one, might be eligible for a pension under the state scheme. A state Anw pension will be paid until your partner reaches state old-age pension age.
However, it is quite likely that your partner will not qualify for a state Anw pension because of the very strict government rules, which exclude many people.
Surviving dependants pension through your employer
Your employer may have chosen to arrange a Surviving Dependants Act shortfall insurance for your partner. This insurance provides benefit that is separate from the state Anw pension. If you have this insurance through your employer your partner will always be eligible for benefit. If your employer has arranged for a Surviving Dependants Act shortfall pension, it will compensate for any loss of state Anw pension.
If you have Surviving Dependants Act shortfall insurance, your partner will receive a fixed amount if you die while you are in your current job. Your partner will always receive the Surviving Dependants Act shortfall pension, whatever your salary or the amount of partner’s pension. The Surviving Dependants Act shortfall pension will stop when your partner reaches the state old-age pension age, or in the month of your partner’s 67th birthday, if this is earlier.
Your pension introductory letter will tell you whether your employer has arranged a Surviving Dependants Act shortfall pension for you. Otherwise, you have the option to take out Surviving Dependants Act shortfall insurance yourself.
- If your employer has arranged a Surviving Dependants Act shortfall pension for you, it will be included in your scheme automatically, without you having to contact us.
- N.B. if you have the option to take out Surviving Dependants Act shortfall insurance yourself, you will not be insured automatically. You must tell your employer that you want to take out this insurance. You are responsible for paying the premium for Surviving Dependants Act shortfall insurance that you arrange yourself.