Retirement pension
Fund members can begin withdrawing their retirement pensions between the age of 60 and 70.
The pension is paid monthly, at the end of the month.
Payments are adjusted according to changes to the consumer price index. The monthly pension amount decreases if pension withdrawal begins before the age of 67 and increases if withdrawal is delayed. However, there are no further increases to the amount after the age of 70.
The retirement pension is paid to the end of life, in accordance with earned rights, and is independent of other payments pensioners may be entitled to.
Disability pension
Fund members who have been assessed with at least 50% disability for a minimum of six months may be entitled to a disability pension. This is conditional on the fund member having suffered a loss of income as a result of the disability.
Disability pensions are paid monthly, at the end of the month. The payments are adjusted according to changes to the consumer price index.
Disability pensions are paid for a specific period, based on the assessment of a physician, and the disability is regularly reassessed. If the disability is assessed as permanent, the disability benefits will change into a retirement pension at age 67.
Disability pensions are income-linked. An income review is carried out every three months. This review will compare the person’s total income over the past year and the income according to tax returns submitted in the four years prior to the assessment of disability. If the recent income is higher than the income that the person had before receiving disability payments, the disability benefits will be decreased or discontinued.
Spouse’s pension
If a fund member dies and leaves a surviving spouse, the spouse is entitled to a spouse’s pension.
A spouse is the person who is either married to or cohabiting with the fund member. For cohabiting partners, the cohabitation must have continued for at least two years before the fund member’s demise.
The spouse’s pension is generally 50% of the fund member’s rights and is paid in full for three years and then at half that amount for two years. If the surviving spouse is disabled, however, a full spouse’s pension is paid to age 65. A full spouse’s pension is also paid when there are children who are supported by the spouse, and who were previously dependent on both, until the youngest child reaches the age of 20.
If the spouse remarries, or embarks on a cohabitation that can be regarded as the equivalent of a marriage, the spouse’s pension is cancelled.
Children’s pension
If a fund member dies and leaves children under the age of 18, they may be entitled to a children’s pension. The condition is that the fund member in question must have paid into the fund for six of the past twelve months, two of the past three years, or enjoy a retirement or disability pension from the fund.
The children of disability pensioners may also be entitled to a children’s pension. If the fund member has paid into more than one pension fund over the four years prior to the assessment of disability, the children’s pension will be divided proportionately between them.
Pension rights in many pension funds
As membership of a pension fund is governed by profession, many people pay into more than one pension fund. When beginning to withdraw a pension, in most cases it is sufficient to apply to the fund that has been paid into most recently. This fund will then contact any other funds and send them the appropriate information.
Pensions application, press here.