Pension scheme rules set to change from 1 January 2025

We have clarified and updated our pension scheme rules in several respects. The following changes will take effect on 1 January 2025:

• We are stopping double cover for your partner's pensioen
  If you die, your partner will receive a partner’s pension for as long as they live. When you retire, you can determine the amount of your partner’s pension. If you remain in work after you retire, you will be entitled to an additional partner's pension because of your employment. This means you will receive double cover for a portion of your partner’s pension. The portion of the partner’s pension that is covered twice will expire on 1 January 2025.
• You can take out insurance for temporary additional partner’s pension for the period after you reach state retirement age
  If you intend to remain in work after you reach state retirement age and you have taken out insurance for temporary additional partner’s pension (Surviving Dependants Act shortfall), you will in future be able to keep this insurance policy. Currently, this is not an option. If you wish to take advantage of this opportunity, please let PME know in good time.

Calculation factors

The calculation factors that we use to calculate your pension are adjusted on 1 January each year. Among other things, we use these to calculate what happens if you retire earlier or later, or if you exchange a portion of your pension for additional partner’s pension when you retire, or vice versa.

Clarifications

Some of the text of the scheme rules has been clarified while preserving the meaning. You will find these changes in our new pension scheme rules. We will publish them under Documents in early January. If you would like to receive a personal copy of the rules, please contact us.