Your surviving relatives may receive a payout from your lifelong pension when you die. The payment depends on if you die before or after retirement.
You can guarantee your surviving relatives a payout if you die before retirement
Your surviving relatives receive your savings for lifelong pension if you die before having reached age68 and before having retired. This is due to the fact that your pension scheme includes a pension life cover.
If you want to secure your next of kin after having retired or reached age 68, you must opt for the pension guarantee
The pension life cover may be optional
The rules applying to the pension life cover depends on the collective agreement applying to your job:
- If you are employed under a public collective agreement, the pension life cover is compulsory.
- If you are employed under a private collective agreement, you may opt out of the pension life cover if e.g. you are single and do not have the need for securing your surviving relatives.
The pension life cover is paid as a lump sum to your next of kin unless you decide otherwise.
On Min pension you can see the amount to be paid. Here you can also see who will receive the payout, and you can change it if you want the amount to be paid to someone else.
Contact us if you want to change your pension life cover.