Which information should I receive from APS?
If you are retired, you will receive an annual Pension overview from APS. This states how much pension you received in the past year. You can also use this information for your tax declaration. Please check the data in the overview carefully and contact APS if something is wrong in your opinion.
You can remain updated of the developments at APS via our website.
Will my pension be increased through indexation?
As of 1 July 2020, the system of automatic indexation, which was linked the indexation of the civil servants’ salaries, will be replaced by indexation that is linked to the increase of the cost of living and to the pension fund cover ratio. Indexation is only granted if the financial position of APS is strong enough. The pension fund cover ratio needs to be higher than 105%. If indexation can be granted, both the pensions and the future pension rights will be increased.
Duurtetoeslag will cease to exist
The ‘duurtetoeslag’ (cost of living adjustment) which applied to employees in the old pension scheme (prior to 1998) will cease to exist. Accrued rights will be upheld. However, there will be no further accrual. In addition, the accrued rights will not be increased by 10% due to the increase of the retirement age, nor will they be reduced if a participant opts for early retirement. Indexation of the ‘duurtetoeslag’ will be the same as the conditional indexation of the pension.
The yardstick for measuring the financial position of APS is the cover ratio. It is the ratio of the assets and liabilities of the pension fund expressed in a percentage. If the cover ratio drops below 100%, APS has to draw up a recovery plan to bring the ratio back to at least 100% within a period of 5 years. If the recovery does not materialize within these 5 years, the employers and the participants (employees, former employees and pensioners) have to make a contribution to the fund that will restore the cover ratio to 100%. The employer will have to provide a capital injection, while the participants will see their pension and future pension rights reduced. The progress of the recovery plan will be monitored each year.
What has been arranged for my surviving family members?
When you are retired or when you are receiving a disability pension benefit, there is a widow(er)’s pension for your marriage partner if your pass away. If you still have under-age children at that time, there is an orphan’s pension for them.
The widow(er)’s pension is a benefit for your husband/wife after your death. The marriage must be concluded before you reached the age of 65. If you cohabitated without being married, there is no widow(er)’s pension for your partner. Your spouse receives the widow(er)’s pension from the moment of your death until his or her death.
When you die when you are already retired, your spouse will receive a widow(er)’s pension that is 70% of your senior’s pension. This percentage can be different if you were married before.
The orphan’s pension is a benefit for your children if you pass away. The orphan’s pension is paid to children up to the age of 18 or 27 if they are still studying or are unable to provide for themselves due to illness or disability.
What if I move abroad?
If you are going to move abroad, we appreciate it if you inform us. Please send us your new address via the amendment and correction form.
If you live abroad, you must send APS an ‘Attestatie de Vita’ (life certificate, to prove that you are still alive) twice a year, in the months of June and December, in order to be able to continue to receive your pension payments. You can apply for such a document with the Population Register. You do not have to submit such a document when you live in Sint Maarten.
If you are going to live in the Netherlands, you must have an ING Bank account for the payments of your pension.