Ga direct naar inhoud

Nederlandse versie

Small Pensions (Value Transfer) Act

On 1 January 2019, the Dutch Small Pensions (Value Transfer) Act (Wet waardeoverdracht klein pensioen) took effect. The Act facilitates the automatic value transfer of small pensions to your current pension provider. This means that several small pensions can be combined into one larger pension. In addition, this Act restricts the possibility of commuting small pensions prematurely. This is only possible on the retirement date. A small pension has a limited scope and arises when the pension accrual via your employer is terminated.

Important starting points at a glance

  • The Act applies to all (new) small pensions from 1 January 2018.
  • You have a small pension if the pension benefit on the retirement date is lower than the statutory commutation limit. In 2022 this amount is € 520.35 gross per year. The Minister of Social Affairs and Employment fixes the commutation limit annually.
  • Pension providers are not obliged to automatically transfer small pensions to your current pension scheme. Nationale-Nederlanden will automatically transfer your small pensions that arose as of 1 January 2018. You do not need to make a separate request.
  • If your small pension arose before 2018, we will not automatically transfer your pension. If you want to transfer your pension, you must request it yourself from your current pension provider.
  • From 1 January 2019, very small pensions will automatically revert to the pension provider. These are pensions of € 2 or less per year.

Commuting small pensions

Nationale-Nederlanden was already reluctant to commute small pensions in recent years. As of 1 January 2019, interim commutation of new small pensions (arising as of 1 January 2018) is no longer permitted. In line with this legislation, we will in future offer commutation only on the retirement date. We do this based on the idea that a pension is meant as a retirement provision.

Very small pensions cancelled

Very small pensions (€ 2 or less per year) that arise after 1 January 2019 will be cancelled automatically. Nationale-Nederlanden does not keep this money, but donates the value to a good cause.


Can we help you?