If you change employers, you can choose to transfer your accrued pension to the pension provider of your new employer. This is called value transfer. An advantage of value transfer is that you keep your total pension together. But the comparison of the pension plans of your old and new employer mainly determines if value transfer is favorable for you or not. This is often not easy and, therefore, it is recommendable to call in the assistance of an independent financial adviser.
Do you wish to transfer your pension from APS to another pension provider? Then, you have to apply for this within two years after your dismissal. Value transfer is only possible from or to a pension provider as described in the Pensioenlandsverordening overheidsdienaren (national ordinance pension of civil servants).
Which information will I still receive from APS?
If you are no longer working with an employer affiliated with APS but still have pension entitlements with APS, your will receive a Pension overview from APS each year. This states how much pension you have accrued with APS. Please check the data in this overview carefully and if something is wrong, please contact us.
When you have retired later on you will, as of that moment, receive an annual pension overview from APS stating the pension that APS has paid to you. You can also use this overview for your tax declaration.
You can remain updated on the developments at APS via our website.
Will my pension be increased?
After your retirement you will probably be entitled to a Cost of Living Adjustment (COLA). This means that your pension will be adjusted to the increasing cost of living. This is not an annual adjustment.
The government determines this COLA and when it is granted. The consumer price index of the previous year is the yardstick for the COLA. For participants who already took part in the pension plan before 1998, the possible COLA is applied to the cost of living allowance. This is only done if your last employer affiliated with APS agrees with this. For participants who started to take part in the pension plan after 1998, the COLA is applied to the pension benefit.
PLEASE TAKE NOTE: The pension plan of APS is probably going to change in 2019. The social partners reached an agreement about this in 2017. The changes still have to be approved by Parliament.
What has been arranged for my surviving family members?
If you still have pension entitlements with APS as a former participant, there is also a widow(er)’s pension for your marriage partner and an orphan’s pension for your possible under-age children.
The widow(er)’s pension is a benefit for your husband/wife after your death. The marriage must be concluded before you reached the age of 62. If you cohabitated without being married, there is no widow(er)’s pension for your partner. Your partner receives the widow(er)’s pension from the moment of your death until his or her death.
When you die when you are no longer working with the government, your partner will receive a widow(er)’s pension that is 70% of the senior’s pension that you have accrued with APS. This percentage can be different if you were married before.
Click here for more information about the widow(er)’s pension.
The orphan’s pension is a benefit for your children if you pass away. The orphan’s pension is paid to children up to the age of 21 or 25 if they are still studying or are unable to provide for themselves due to illness or disability.
Click here for more information about the orphan’s pension.