Published on 29 November 2018
The government has decided that small pensions (from € 2 to € 474.11 gross per year in 2018) may no longer be commuted. From 2019, small pensions will be transferred to your new pension administrator. This ensures that all your pensions from different pension funds are kept together. Very small pensions of less than € 2 gross per year will cease to exist from 1 January 2019. That is because the administration costs for these very small pensions are extremely high. These rules also apply to small or very small pensions built up before 1 January 2019.
What can I do now to retain my very small pension (less than € 2 per year)?
You may have such a pension if, for example, you worked for an employer only for a short period and therefore built up little pension. By going to My pension planner, you can see whether you have built up pension of less than € 2 gross per year at Bpf Koopvaardij.
If you have such a very small pension of less than € 2 euro gross per year at Bpf Koopvaardij and you wish to keep it, contact us before 1 January 2019. You can then submit a request to commute it. Commuting a very small pension will be possible only for the rest of this year. Commuting means that you will receive the amount in a lump sum and not on a monthly basis when you retire. You can also submit a request to have the very small pension transferred to your current pension administrator.