Are you about to retire? When you retire, you have to make a number of choices that affect the amount of the partner's pension. For example, you can choose to exchange a portion of your retirement pension for a higher partner's pension. The reverse is also possible: you can opt for a lower partner's pension and a higher old-age pension. Why would you choose that and what are the pros and cons? We explain it briefly.
Why exchange retirement pension for partner's pension or vice versa?
Swapping a retirement pension for a partner's pension can be a good idea if, for example, you have a younger partner. Or if your partner has insufficient or a low income of his own in the event of your death. You can also opt for the reverse if, for example, your partner has sufficient income of his own.
Your partner must always agree
The partner's pension amounts to 70% of the retirement pension as standard. In the unlikely event of your death while you are still employed, your partner will receive a partner's pension that is 70% of the pension you would have accrued if you had continued to work for IFF until retirement. You can change this ratio once at retirement. You do not decide on this alone; your partner must always agree.