At SPIN you accrue a pension capital that allows you to purchase a life time pension scheme at an insurance company.. You can choose which insurance company is going to do this. This comparison can help.
SPIN will inform you regularly about your forthcoming pension. The process leading up to your retirement will be as follows:
- Six months before your AOW age, you will receive a letter from SPIN. This letter provides information about the hight of your pension, which choices you can maken and what you need to to. With this information you can start to orientate on the purchae of your pension.
- Four months before your AOW age you must inform SPIN of your choices for your DB-pension.
- From about one month before your retirement date we must have received all forms to transfer your pension capital to the insurer tyou have chosen.
- After receipt of all forms SPIN will transfer your pension capital to the insurer you gave chosen
A comparison of different providers can be worth your while
When you purchase your pension It is important to look for the product and provider that suits you best. The first thing to do therefore is to establish your personal financial situation and (income) requirements. Clearly, in choosing, legal provisions will also be considered. For instance, a pension must provide lifelong benefit payments and may not be paid out in a lump sum.
Choosing the most appropriate insurance company can be highly advantageous. And this advantage will be yours for as long as you live! The differences in the amount received in benefit payments can be substantial. This is because insurance companies apply different interest rates and charge different fees. Four factors determine the amount you receive in pension benefit:
- A variabel or fixed pension. This is a fundamental choice!
- The interest rate.
- How long an insurance company expects your lifelong benefit payments to continue.
- The costs.
Sometimes there are circumstances that can cause the value of the investments to decline; rising interest rates, for example. Precisely to limit the risk of a lower pension, you invest more in bonds than in shares just before the retirement date. Bonds ensure that the expected pension income is stabilized as much as possible. This is because investing in bonds has a so-called dampening mechanism: if interest rates rise, your bonds will lose value. But at a high interest rate you can use your capital to purchase more pension benefits from an insurer. The mechanism also works the other way around. Interest rate increases and decreases therefore have little effect on the amount of your final pension benefit.
This mechanism is explained in this video:
Calculating highest pension benefit
On this website you can quickly and easily calculate the most suitable (highest) pension benefit for your pension capital. After entering your data, it is possible to compare the pension benefits provided by different insurance companies. You can instantly request an offer for one on line.
Please make sure you have your pension capital details available. You will have received these from SPIN. You will be asked for this information as you navigate through the website.
Calculate your pension benefit in three easy steps
> Step 1: Calculate pension benefit
Please enter the requested data as input for the calculation. Enter your partner's name if you decide in favor of a partner pension. Think through whether you want a variable of a fixed pension. A variable pensioen will likely retain more purchasing power. A fixed pension is stable, but will surely mean a decline in purchasing power. See
here if for further information.
>> Step 2: Compare pension benefits
Variable pensionIf you consider a variable pension, we provide yoy with a preliminary offer. Because the variable pensions from different insurance companies have very different characteristics they do not fit in our online comparison. For a good comparison of variable pensions you can contact us or you van start by requesting a pension offer.
Fixed PensionThe comparison will range from the highest to the lowest benefit. Via this site you can instantly compare the offers of those insurance companies that can provide the highest pension benefit. We perform the broadest possible comparison of insurance companies in the market. We regret that some insurance companies do not feature in our online comparison. You will receive a comparison of those insurance companies that are most active in this market and that cooperate with us. You are of course free to request offers yourself for the purpose of comparison. Ultimately, it is you who decides who will provide your pension benefit.
>>> Step 3: Request a pension offer
Variable PensionIf you consider a variable pension you can contact us or make a direct online request for a pension offer. We will contact you to review every aspect of wishes, consider other offers untill you accept an offer. We will also handle the administrative tasks on your behalf..
Fixed PensionIn you consider a fixed pension,you can select the most appropriate insurance company relative to your situation, based on the online comparison. You can make a direct online request for the pension offer you want. We will contact you to review every aspect of it with you again. If you accept the offer, we will also handle the administrative tasks on your behalf.
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