You can choose to exchange part of your accrued retirement pension for additional partner's pension, or the reverse, to exchange part of the accrued partner's pension for additional retirement pension. You can make this decision when you retire. You cannot subsequently change this decision. You can view the possibilities and consequences in My pension.
If you decide to exchange part of your retirement pension for a higher partner’s pension, your partner will receive a higher benefit after your death, but the pension benefit you receive yourself will be lower. The reverse is also possible, so you can exchange partner’s pension for retirement pension. Your partner will then receive less or no partner’s pension after your death, but you yourself will receive a higher retirement pension. Your partner will have to agree with your decision.
Six months before you retire, you will get a letter asking you to apply for your pension. You can then notify us of your decisions.
If you have no partner, the partner’s pension will be automatically converted into a higher retirement pension. You will be informed thereof six months before your retirement date.
Here's what to consider when exchanging a retirement pension for a partner's pension
- The choice is a one-time thing. Once you have chosen at retirement whether or not to exchange, it cannot be reversed. In My Planner you can view the amounts of your retirement pension and your partner's pension if you choose to exchange.
- The pension fund uses conversion factors to calculate your pension. These factors are determined periodically (annually or semi-annually) and are therefore subject to change. This affects the amount of your pension.
Frequently asked questions
You could consider whether to exchange part of your retirement pension for partner's pension if the standard partner's pension is not sufficient for your partner, for example if part of this has to be paid to a former partner. Your partner will then be assured of an income after your death.
If your partner already has a good pension or income of their own, you might want to exchange the partner’s pension for a higher retirement pension. You will then have a higher disposable income when you retire.
You decide whether to exchange pension on your pension start date. The pension fund will send you several forms before you retire, and you can use these forms to let us know if you wish to exchange pension and how you wish to do this.