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Are you a ‘US Person’ or do you live (temporarily or otherwise) in the United States of America (US)? And do you have a pension scheme based on investments at Nationale-Nederlanden that has been arranged via your current or former employer? Or do you want to purchase a pension benefit from us using the value of your investments? If so, restrictions apply to your investment-linked pension and/or purchasing a pension benefit.
Nationale-Nederlanden Levensverzekering Maatschappij N.V. is not subject to US broker-dealer regulations. Our pension services are not subject to US securities legislation.
The answer to the question below explains what makes you a US Person. On this page you can also read what you need to take account of as a US Person. Please be mindful that the information you read here is not intended to be investment advice or to encourage you to buy or sell investments.
We consider you a ‘US Person’ if you meet one of the following criteria:
This is not always possible as it depends on the conditions of your pension regulations. Check your pension regulations to find out what applies to you.
Are you in the employment of a Dutch employer? And do you live and/or work in the US at the time that you can start participating in a Dutch investment-linked pension scheme? In that case, you are subject to US securities legislation. Nationale-Nederlanden works on the assumption that its pension insurances are subject exclusively to Dutch law. Consequently, we do not take account of foreign laws and regulations. For this reason, Nationale-Nederlanden excludes employees in this situation from participating in the pension scheme in the Netherlands.
In some circumstances, you can continue to participate in the scheme if you move to the US after having started employment. Consult your pension regulations for further information.
Do you have an investment-linked pension with Nationale-Nederlanden via your employer? In that case, you will need to purchase a pension benefit on your retirement date using your pension capital.
If you are a US Person on your retirement date, you will only be able to purchase a guaranteed, fixed pension benefit from us. Such a pension does not involve investments. In other words, as a US Person you will not be able to purchase a variable pension benefit from us. Remember, you can also purchase your pension benefit from another provider.
During the accrual phase of your pension, you will already be anticipating the pension benefit that you will purchase on your retirement date. When your retirement date approaches, we will ask you to pay attention to the way we invest your pension money. Based on your choice and risk profile, we will gradually prepare your investments for your pension benefit. We will then be able to reduce your investment risk as much as possible, or to a lesser extent:
You decide the extent to which the investment risk is reduced as your retirement date approaches.
If you are a US Person on your retirement date, you will only be able to purchase a guaranteed, fixed pension benefit from us. Do you have a pension scheme based on investments? In that case, we will need to sell all your investments on your retirement date in order to be able to purchase this pension benefit.
Do you wish to run a (substantial) investment risk up until your retirement date? In that case, be aware that your investments can still (sharply) fall or rise in value at the last minute. You can limit this by reducing your investment risk as your retirement date gets closer.
The longer we make higher-risk investments on your behalf, the more your pension capital can potentially grow. However, the results of your investments can also fall short of expectations, resulting in a lower pension capital. If you then purchase a fixed pension benefit on your retirement date, you will no longer be able to compensate any disappointing results. Therefore, when choosing your investment risk, always consider the following:
US legislation sets specific conditions on companies that sell investment products to US Persons. Nationale-Nederlanden works on the assumption that its pension insurances are subject exclusively to Dutch law. Consequently, we do not take account of foreign laws and regulations. For this reason, US Persons cannot purchase investment products, such as variable pension benefit, from Nationale-Nederlanden. However, as a US Person you will be able to opt for our fixed pension benefit. Remember, you can also purchase your pension benefit from another provider that may be able to offer you a variable benefit.