If you change jobs
You are working for IKEA. As a result, you accrue pension under our pension plan.
You may transfer the pension that you have accrued earlier to our fund
This is called a value transfer. You can apply for a value transfer with us. Go to What must I do if... Value transfer to see how you can apply. We will arrange the transfer provided you agree to our proposal.
Is your pension € 2.- or less per year? In that case this pension will lapse according to law, as the administration costs are more than € 2.-. Is your pension less than € 503,24 per year in 2021? Then your former pension fund or insurer (‘pension administrator’) may transfer your pension to us automatically. Check the latest pension statement that you received from them to see if you need to take any action yourself in order to have your pension transferred to us.
If you change jobs in the future
Will you be changing jobs, involving a new pension plan? Then you will also start accruing pension under a new pension plan. You can transfer the pension that you have accrued with our pension fund. You can apply for value transfer with your new pension fund. Is your pension less than € 503,24 per year in 2021? Then we will transfer your pension automatically. If your pension is € 2.- or less per year, it will lapse.
You do not need to transfer your pension in case you change jobs within IKEA. For in that case you will continue to accrue pension with us. Your pension plan will not change.
Do you opt for value transfer?
Then your pension will remain together. You will get your entire pension from 1 pension provider.
Do you not opt for value transfer?
In that case your accrued pension will remain with your former pension fund. You will not pay any contribution anymore and also not accrue any pension any longer. When you retire, you will receive that part of your pension from your former pension fund.
Think carefully whether value transfer is advantageous for you
After applying for a value transfer with your new pension fund you will first receive a proposal. It states your former and new pension amounts. It is advisable to not only look at the amounts, but also compare your former and new pension plan. You can do so by consulting this Pensioen 1-2-3:
- What is and is not covered by the pension plan, for instance pension for your partner and children in the event of your death.
- What is the financial situation of your former and new pension fund? Is there a smaller chance of pension curtailment with your new pension fund in the years to come? In that case a value transfer may be advantageous. Of course, the reverse is also possible. Read more at How secure is your pension? in this Pensioen 1-2-3.
Look at Pensioen 1-2-3 on the website of your other pension fund before deciding whether you want to transfer your pension. This helps you to make the right choice. If you are not sure what to do, it is advisable to consult a financial advisor.
The pension comparison tool (‘pensioenvergelijker’) can also be helpful. For this go to What are your options?
If the financial situation is not healthy, value transfer may not be immediately possible
The financial situation of both your former and your new pension fund must be healthy. Their policy funding ratio must be at least 100%. This is stipulated by law. This way the government prevents you from running risks.
Is the financial situation not healthy? Then you can still apply for a transfer, however. But your pension will remain with your former pension fund until the financial situation of both funds is healthy again. After that you will receive a proposal. You can then decide if you wish to transfer your pension.
The policy funding ratio is the relation between:
- the capital of the pension fund and
- the funds the pension fund needs to pay the current and future pensions.
When the funding ratio is 100%, the two will be equal. In that case there will be exactly enough money for all the pensions to be paid.
Each fund will measure the policy ratio over the last 12 months. We will take the average of that. This is called the policy funding ratio. We measure this every month. Read more about our financial situation on Latest news
If you start a new job in another country
Are you starting a new job in another country? Then it may be possible for you to transfer your pension. This depends on the pension system in that country and the pension plan of your new employer. Do you wish to know more? Then ask your new employer if you can transfer your pension to your new pension fund.