It is important to figure out how your financial situation will be affected by whatever decision you make. If you opt to defer your pension, you will lose some money in the period spanning the original retirement date and the new retirement date. It could take a few years for you to make up this shortfall. You can calculate the exact level of the shortfall yourself or enlist the help of an independent adviser.
The example below is intended to give you an idea of how deferral could affect you:
Suppose: the retirement date in your pension scheme is
| 65 years |
You would like to retire at
| 67 years |
| |
| If your pension comes into payment in your 65th year, you will receive the following sum on an annual basis for the rest of your life | €10,000 |
If you die after your 65th year, your partner will receive the following sum on an annual basis
| €7,000 |
| | |
If your pension comes into payment in your 67th year, you will receive the following sum on an annual basis for the rest of your life*
| €11,050 |
If you die after your 65th year, your partner will receive the following sum on an annual basis
| €7,000
|
* This sum is calculated on the basis of a fixed factor. This is referred to as the deferral factor. Find out more about the standard factors a.s.r. uses for the various pension options by visiting the following page:
flexibility factors. This page also contains a few more sample calculations.
If you decide to defer your pension until your 67th year, you will, eventually, receive a higher pension on a monthly basis. But you will also lose € 20,000 gross in the period between your 65th and 67th year. You will need to make up this shortfall, which takes about 19 years in this example.