Congratulations on your new job! Did you know that when you start a new job there are a number of choices you can make with regard to your pension? That is the case when you start building up a pension with PME, and also if you leave our sector. You can read about the choices that you can make below if you have a new job in a different sector, or if you have started your own business.
Taking out extra partner's pension insurance
PME provides for a pension to be paid to your partner, which your partner will receive if you pass away. Is the partner's pension not enough for your partner to get by on? Then you can take out insurance to provide for Surviving Dependents Act shortfall pension. This insurance provides for extra partner's pension. Your partner receives the extra partner's pension until they receive the state pension. For more information, see Surviving Dependents Act shortfall pension. Or apply directly for the insurance online, via My PME.
Transferring your pension
Once your employer has registered you with us, you will receive a message from us within one month. This will inform you about how you can bring your pension with you to PME. Whether transferring your pension is a good choice depends on your personal situation and the financial situation of your previous pension administrator and of PME. Besides this, the differences in the pension schemes may also influence your decision. You can compare the pensions schemes with the pension comparison tool.
You can apply to transfer your pension via My PME. Or download the pension transfer application form. If you apply for a pension transfer you will receive a quotation within a maximum of 5 months.
NB: if pension funds are not sufficiently financially healthy, they are not permitted to perform a pension transfer. This is the case with PME at present, however you can make the application now. As soon as our financial situation permits, we will process your pension transfer.
I have a new job in a different sector
Congratulations on your new job! If you are going to work for a new employer, you will stop building up a pension with PME.
Taking your pension with you to a new pension administrator
If your accrued pension with PME is between € 2.01 and € 503,24 (2021) gross per year, then we will automatically transfer your pension from PME, if you are going to be building up a pension with another pension administrator. You do not need to take any action for this to happen.
If your accrued pension with PME is more than € 503,24 (2021) gross per year, then you can take your pension with you to your new pension administrator, if that is what you wish to do. This is called pension transfer and you apply for it with your new pension
administrator. They will determine whether you are eligible for pension transfer. If you do not transfer your pension to a new pension administrator, then your pension stays with PME. You will find the amount of your pension on My PME.
Voluntary pension build-up
If your new employer has no pension scheme, then you can continue building up your pension voluntarily with PME for a maximum of 3 years. In that case you pay both the employer's and the employee's parts of the premium. You fill find more information about this here.
I have started my own business
If you leave the sector and start your own business, then you can continue to build up your pension voluntarily with PME for a maximum of 10 years. In that case you pay both the employer's and the employee's parts of the premium. You have to apply for voluntary continuation with PME within 1 year of leaving service. You will then receive a quotation from us. You can download the application for voluntary continuation here.
Your Surviving Dependents Act shortfall pension expires on the date when you leave service. You don't need to give us notice of this. If desired, you can take on new insurance for a Surviving Dependents Act shortfall pension with an insurer. Ask your adviser about the possibilities.