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The administration of very small pensions is expensive. Often the costs exceed the value of the pension. Therefore current legislation will change. As of January 1, 2019 we are no longer required to invest very small pensions of your former employees.
Cappital will not receive the very small pensions
Every year we will donate the total amount of all the very small pension capitals to the Alzheimercentrum VUmc. In our annual report we will report these totals.
On January 1, 2019 all very small pensions will be terminated
If your former employee has a very small pension capital, he or she will receive a letter from us by the end of the year. In this letter we will ask what we should do with the very small pension capital. Your former employee can request for the pension capital to be:
- commuted to his or her personal bank account;
- transferred tot the current pension provider; or
- donated by Cappital to the Alzheimercentrum VUmc.
What happens if your former employee does not respond? Then we will donate the very small pension to the Alzheimercentrum VUmc.
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