Options

We have mentioned a couple of options, but there are others. A list of the available options in the ARP/ASP plan is provided below:

During accrual:

• the amount of your personal contribution, and therefore also how much Mars pays on your behalf;
• how you wish to have the capital in the ASP plan invested;
• when you reach 58 years of age, you make a provisional choice between a fixed or a variable pension.

When you retire:

• taking pension earlier, or later. This will affect the amount of your pension. If you retire earlier, your pension will be lower, because your pension will be paid over a longer period. If you retire later, your pension will be higher.
• You decide which pensions you wish to purchase on your retirement date. Only a retirement pension, or also a partner’s and orphan's pension.
• Purchasing a temporary retirement pension. If you retire before reaching your AOW age, you may wish to take a higher pension from your ARP/ASP plan until your AOW pension comes into payment. This can compensate for the AOW benefit that has not yet come into payment. This will however mean that your retirement pension before and after your AOW age will be lower.
• Initially a higher pension, then a lower one (or vice versa)
• Part-time retirement, so continuing to work part-time and taking part of your pension.
• Your choice for a fixed or variable pension. With a fixed pension, you know where you stand. You know how much you will receive each month for the rest of your life. A variable pension can be higher or lower each year. Your pension capital continues to be invested after your retirement date. You take more risk, but you also have the possibility of a higher pension. Read more about fixed and variable pensions.
• Deciding where to purchase your pension.
  You can use your pension capital in the ARP plan to purchase a fixed* pension with the Mars Pension Fund or an external party such as an insurer. A variable pension can only be purchased from an external party.
  You can use your pension capital in the ASP plan to purchase a fixed or variable pension with an external party such as an insurer. You are free to choose your preferred external party.

* If you purchase a pension with the Mars Pension Fund, this is known as a stable pension instead of a fixed pension. You know approximately how much you will receive each month for the rest of your life. The amount may be higher if we are able to increase the pensions in line with prices (known as indexation). It will be lower if we are forced to reduce the pensions.