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I worked at ING
No pension value transfers for the time being
10-07-2020
For the time being, there will be no pension value transfers to and from ING CDC Pensioenfonds. This is because the pension fund's policy funding ratio was below 100% on 30 June 2020.
The Pension Act prohibits value transfers if a pension fund's policy funding ratio drops below 100%. Click here to see how the policy funding ratio developed at ING CDC Pensioenfonds.
Value transfers on hold
If you are leaving ING, you will not be able to transfer the value of your pension in ING CDC Pensioenfonds to another pension administrator for the time being.
And if you recently joined ING, you will not be able transfer the value of your pension in another pension fund to ING CDC Pensioenfonds for the time being.
Requests may be submitted
Despite the suspension of value transfers, you may still submit a request for value transfer. Click here for the relevant form. As soon as the policy funding ratio has risen above 100%, your request will be processed and you will be informed by the pension fund.
Frequently asked questions
Where can I find the form to request a value transfer?
The form is available on the pension fund's website and on My Pension, the pension fund’s secure online environment.
I recently requested a value transfer. When will the pension fund contact me about this?
Within one month after your request, the pension fund will send you a letter to inform you that your request has been put on hold.
What will the pension fund do when its policy funding ratio rises above 100%?
ING CDC Pensioenfonds will resume processing value transfers and will inform you accordingly.
How long does it take to complete a value transfer?
The entire process can take up to several months’ time, depending on the financial situation of the pension funds involved in the process. Check here the 6 steps of a value transfer.
When is the value transfer final?
After you have submitted a request for a value transfer, you will be sent a proposal. If you agree with the proposal, your pension will be transferred.
Do I need my partner to agree with the value transfer?
Yes, you do. Your partner will need to co-sign the statement agreeing with the proposal.
How can I make a well-informed decision about transferring my pension?
Points to consider in your decision (also see the Pension Comparison Tool):
- What is the nature of the pension plan provided by your new and your former employer?
- What indexation policy does your new and your former pension plan have (to ensure your pensions retains its purchasing power)?
- How does the financial position of your new pension fund compare with that of your former fund?
- What pension choices do your new and your former pension plans offer?
- Do you wish to spread your pension across several pension administrators?
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