In our scheme, you determine when your pension with PME commences. But there are also more choices you can make. If you take no action, you will automatically receive a message from us six months before you reach your state pension retirement date, informing you about applying for your pension.
Do you want something else? For example, to retire early, or maybe to carry on working for longer? To fully retire, or maybe to start working 1 day less per week? Everyone is different. That is why we offer tailor-made pensions, with many options.
Which choices suit your situation?
You can make a variety of pension choices with us. The right choice for you depends on your personal situation. You can also combine the pension choices together. This way you create your tailor-made pension. Consider your choices carefully. You can only make them once.
Retire early, or carry on working for longer?
You want to retire early
You can retire early (from 55 onwards). But then your pension will be lower. Because we have to pay it over a longer period.
You want to retire later
You can also carry on working for longer, and arrange for your pension to start later. This is possible, up to 5 years after your state pension retirement date. This way your pension will be higher. In the overviews that you receive from us and on My PME we base our calculations on commencement at the age of 68.
Work less hours, or a high/low pension?
A high/low pension
Would you like to receive a bit more pension initially, and then a bit less from a certain date? That is possible. We call this high-low. Naturally, it is also possible to arrange for this the other way round.
You want to reduce your working hours
You can arrange for part of your pension to commence. We call this a part-time pension. You can then carry on working alongside this. This way you continue to build up a pension on the hours that you still work.
Extra pension for yourself, or give some of your pension to your partner?
Would you like to receive extra pension?
Finally, you can exchange your partner's pension for extra pension for yourself. This may be a good idea if your partner has a good income of their own. Do you have no partner? Then we do this for you automatically. This way your pension becomes higher.
More pension for your partner?
You can exchange part of your own pension for extra partner's pension. For example, if your partner is younger than you, or your partner has little or no income.
Income tax and social insurance
We receive a lot of questions about income tax and social insurance contributions credit. You can only apply this to one source of income. The best source of income to choose, for the application of the income tax and social insurance contributions credit, depends on your personal situation. You can find more information about this here.
Good to know
- For calculation purposes we assume a standard retirement age; with us this is 68. Most people opt to retire on the state pension retirement date, and that is why the standard retirement date used by PME is your state pension retirement date. Is your state pension retirement date before your 68th birthday? Then the amounts stated in My PME are lower. You can receive a trial calculation from us (pdf).
- 2020 was the last year of the conditional extra pension ('VEP') scheme. In the first half of 2021, we will purchase the conditional extra pension from participants born between 1960 and 1972. You can read on your Uniform Pension Overview whether you are eligible for the conditional extra pension. Are you eligible? Then you will receive a personal letter about the amount of this pension by May 2021 at the latest.
- Are you divorced, or have you previously ended a period of cohabitation? Then your ex-partner may be entitled to part of the pension and partner pension that you built up during the period that you were together. In My PME you can see the part that is allocated to you personally. The part for your ex-partner has already been deducted.
- Once your pension has commenced, you pay tax on the pension you receive. In My PME you can see the monthly amounts net of tax. Are you receiving pension from more than one pension fund? Then the net amount may be different. For more information, visit Belastingdienst.nl.