Payout

Capital turns into a pension.

The credit balance is converted into a pension according to actuarial principles. That means that various factors are taken into account, including statistical life expectancy, an actuarial interest rate and whether you have planned for a survivor’s pension – more about that below.

It’s due to the statistical life expectancy that your pension will turn out lower if you enter retirement before the age of 65. Because then the benefit will have to be paid out over a longer period of time. Therefore, the earlier you retire, the less your monthly pension.

Protecting your family

You can decide before the start of your pension payout: Should your partner receive a survivor’s pension after your death and thus be further protected? You can have your spouse, registered common-law partner or a partner with whom you have lived in a relationship similar to marriage also protected. After your death he or she will receive 60 % of your last pension payment. However, due to this protection your own pension will decrease.

By the way: During your work life your family is automatically protected in the event of your death – more about that under Risk protection.

Steadily growing bit by bit

Your pension is increased each year by 1 %.

You’re very flexible here: You come to an agreement with Mars as to how many instalments you would like – either up to 10 annual instalments or up to 120 monthly instalments – however it best fits your financial planning.

The start of payments is the month in which you enter retirement. With annual instalments you can also agree on a later date (at the latest in January after the start of your retirement). That can be to an advantage when it comes to taxes – discuss it with a tax adviser!

The instalments not yet paid out are subject to interest on the basis of the current actuarial interest rate. You will be informed of the interest with the start of payout.

Irrespective of the interest, each annual instalment will be increased by 1 % compared to the previous year. The monthly instalments will be raised by 1 % every 12 months.

If you were to die before all the instalments had been paid out, your survivors would receive the remaining instalments. This includes: your spouse, your registered common-law partner, your specified life companion or children entitled to a child allowance.