When should you take action?

Your employer will inform Delta Lloyd of any changes in your work situation. In some cases you should inform your employer of changes in your personal life yourself. Your employer will then pass on this information to Delta Lloyd. Your pension may be affected by changes in your situation, so it is important that you take action when certain events occur.

Have you just started your Balanced Pension Plan?

Start by reading your pension introductory letter. This will tell you what has been arranged for you, and about any additional options you have. Depending on the choices made by your employer you might have the option to arrange a Surviving Dependants Act shortfall pension.

Have you come from, or are you leaving to join, a different employer?

  • You can transfer the value built up in your old pension scheme to your Balanced Pension Plan. To do so, you should fill in the 'Application form for transfer of accrued pension rights (value transfer)' [PDF] .
  • If you want to transfer the pension rights in your Balanced Pension Plan to a different pension administrator? You should fill in your new pension administrator’s application form for transfer, and send it to them.
  • You must apply for a value transfer within six months of starting your new job.
  • Your new pension administrator will then contact your previous pension administrator for details of the pension you have already built up. This will happen within one month.
  • Your new pension administrator will send you a quote. You can expect to receive this about four months after your new pension administrator contacted your previous administrator. The quote will tell you the transfer value, which is how much pension will be transferred into your new scheme in exchange for the pension you had already built up.
  • The quote will give you the information you need to decide whether to apply for a value transfer. You have two months to make a decision. You may want to ask a financial adviser for advice. Please note: financial advice is not free. Your adviser will charge you for their services.
  • Your pension administrator will wait for you to sign and return the quote before proceeding with the transfer.\
  • You need take no action if you are happy to leave your built up pension in your previous scheme.

Are you about to retire?

  • Ask the HR department where you work about your options. Your pension introductory letter also explains these options.
  • You should discuss your choices with your employer and your financial adviser.
  • Six months before your retirement date you will receive an application form for your pension from Delta Lloyd. You fill in your choices on the form. If you intend to retire early, then you must inform Delta Lloyd at least six months before your intended retirement date.

Are you and your partner about to start living together?

  • If you and your partner have been living together for at least six months and you are registered at the same address, your partner is entitled to a partner’s pension. If you are registered with the municipality at the same address you need take no further action.

Are you moving house?

  • Tell your employer your new address.

Are you getting divorced, ending a registered partnership, or no longer living with your partner?

  • Make arrangements with your ex-partner about the division of the pension.
  • Fill in the form ‘notification of divorce in connection with old-age pension distribution’ and send it to Delta Lloyd. You must do so within two years of the divorce or separation.
  • Delta Lloyd will make arrangements for the division of your pension.

It is important for you to keep a regular eye on your pension situation. You can avoid unpleasant surprises by reviewing your pension situation at least once a year. You will also be able to take timely action if necessary. This is how you can keep track of your pension.

  • A good time to do this would be when you receive your Uniform Pension Statement (UPS) from Delta Lloyd. You receive a UPS around September every year.
  • You will find a list of all the pensions you have built up, as well as your state old-age pension, by logging in to www.mijnpensioenoverzicht.nl using your DigiD.
  • Pension is part of your income for later. The Delta Lloyd Income Compass (Dutch only) will show you in a few steps whether you will have enough income later. It can also tell you what you can do to keep your pension on course.

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