IconPension covers 

    Retirement pension

    Financial security for as long as you live, no matter how old you live to be.

    In general, all your savings are put in a lifelong retirment pension scheme. If you want a part of your contribution to be put in an annuity certain scheme or retirement insurance scheme, you must contact us

    The retirement pension is paid monthly for the rest of your life. You can start payment of retirement pension benefits when you have reached the retirement age under existing laws. However, it may be required that you have left the position which entitled you to membership of P+. You must start payment of retirement benefits when you have reached age 80 at the latest. 

    When you start payment of your pension benefits, an 'equalisation mechanism' takes effect. This implies that the actual return is spread over a given time period to reduce fluctuations in your regular pension benefits. 

    The development of you savings depends on how much you pay, the return on investments and the chosen investment profile. On Min pension you can see the total of your savings and a retirement pension forecast. 

    If you want to increase your savings, you can increase your pension contribution through your employer or make a single contribution. 

    Two months before you want to start payment of your pension benefits, you must contact us for further agreement about payment. 

    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.