Changing jobs
You are leaving your current employment and would like to know what this means for your pension. In some cases, you can continue accruing a pension with us at your own expense. If you arrange this before 1 March 2027, you may be eligible for compensation. You can read more about this below.
Compensation: pay attention if you leave the sector this year
PME wants to switch to the new pension rules on 1 January 2027. This switch is expected to be beneficial for most people. However, there will be a disadvantage for others. They are expected to accrue less pension in the future than under the old scheme. This is why, at the time of the switch, these people will receive an extra amount in their pension pot. This amount is also known as compensation. This will enable us to maintain their expected pension as much as possible as well. You will only receive an extra amount if the following two conditions apply to you:
- You were born in the period from 1 February 1960 until 31 December 1988*.
- You accrue a pension with PME on 31 December 2026 and 1 January 2027.
*At an earlier stage, we inadvertently mentioned a date of 31 January 1988. That date is incorrect. It should be 31 December 1988.
If you move to another company in our sector on or before 1 January 2027 and you continue accruing a pension with PME, then no worries – you will still be eligible for compensation.
If you leave the sector and no longer accrue a pension with PME at the time of the switch, you will not receive any compensation. Take this into account and check whether you are eligible for compensation from your new pension fund or insurer. Check this carefully. If the pension fund or the insurer of your new employer has already switched to the new rules, you may not be entitled to compensation.
If you do not have a new pension provider, for example because you do not have a new job, you are becoming self-employed or because your new employer does not offer a compulsory pension scheme, you can continue accruing a pension with PME at your own expense. Conditions apply. In that case, you will be eligible for compensation. Please ensure that your application is received by 1 March 2027 at the latest.
Contact us if you would like to know what this means for you personally, so that we can make a cautious estimate for you. This will give you a rough idea of what the compensation will mean for your expected monthly pension and whether it is worth working a little longer, if possible, or accruing a pension at your own expense.
You can find out more about this topic, including useful calculation examples, on the page below.
If you are offered a new job in the metal or technology industry, you will continue to accrue pension with us. Your employer will provide your new salary details to this end. You don’t have to do anything yourself. Did you take out insurance with PME for a temporary supplementary partner’s pension (Anw shortfall)? If you did, you will automatically receive a new quote.
Please note: You can take your accrued partner and orphan’s pension with you to your new job. However, any partner’s pension that is insured on a risk basis will lapse. Only the years you have served your current employer will be insured. This may result in a lower partner’s pension. Check carefully whether this is sufficient; if not, we recommend taking out temporary supplementary partner’s pension insurance.
If you start a new job outside the metal and tech industry, you will probably build up pension with a different pension fund. The pension you have accrued with us remains yours. You have three options:
- You can leave your accrued pension with us. When you retire, you will receive pension payments from us.
- You can take your pension with you to your new pension fund (value transfer). Please contact your new pension fund or insurer about this.
- Have you accrued a small pension with us? Then your pension will, in principle, be transferred automatically to your new pension fund or insurer. If this is not possible within 5 years, you can buy outthis small pension.
You will receive a message from us and from your new pension fund or insurer. It will tell you exactly what you need to know and do.
Your pension accrual stops if you do not have a new job. You can, however, choose to carry on accruing pension with us. There are 2 possible situations:
- You are receiving unemployment benefit. You can continue to accrue pension with us and pay part of the contribution yourself.
- You are not receiving unemployment benefit. You can build up pension entirely at your own cost.
Partner pension after leaving the company
If you leave employment, this has consequences for the partner pension.
Your partner gets a partner pension from us in the event of your death. If your pension accrual with us ends, however, the partner pension automatically becomes lower. This is because part of the partner pension is insured on a risk basis. The risk-based partner pension lapses when your job ends.
We will notify you if your job ends. This letter will list exactly how much pension you have accrued for yourself and for your partner.
If your job ends and your pension accrual with us stops, we swap part of your retirement pension for partner pension. So that your partner will get partner pension if you pass away. This means your retirement pension will be a little lower. You may also opt not to exchange your pension. The choice you make applies until you retire. You cannot change your choice before that.
Making a new choice when you retire
When you apply for your pension, you can reconsider your choice. You can swap back the partner pension for retirement pension. The partner pension will be lower and your retirement pension will be higher. When making your choice, also consider whether your partner will have enough income if you die.
You do not want to swap your retirement pension
You do not want to swap your retirement pension for partner pension? Then tell us.
We are here for you
Making a choice can be quite difficult. That's why we help you to make the right choice for your situation. Please contact us. We are happy to help you at any time.