Continued Insurance after Loss of Employment

Up to now, an insured person who loses his or her employment after reaching the age of 55 would leave the pension fund automatically and would have his or her retirement assets transferred into a vested benefits account. As a rule, vested benefit foundations do not pay out pensions on retirement, but only capital. Following reform (in effect from 1.1.2021), an insured person can now remain with their occupational benefits organisation. He or she will have the same rights as other insured persons (interest payments, conversion rate, pension).

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