Charge on policy transfers and surrenders
Charge on policy transfers and surrenders means that customers who decide to terminate or transfer their pension scheme (including in connection with a change of job) must pay a certain percentage of their savings. The charge on policy transfers and surrenders only applies to pension schemes established as Gennemsnitsrente pension products. If you terminate or transfer your Gennemsnitsrente pension scheme, you have to pay a charge on policy transfers and surrenders so that the remaining customers do not have to pay your share of the bill for the loss suffered by the company on customers’ savings.
Can I transfer the scheme I have with you?
Yes, Velliv has not introduced a charge on policy transfers and surrenders. You are free to transfer your scheme to another company if you want.
It is not a good idea to transfer your pension funds to a company which has introduced a charge on policy transfers and surrenders. You might not be able to get the funds back without having to pay the charge on policy transfers and surrenders. A charge on policy transfers and surrenders indicates that the company lacks bonus reserves in order to meet its obligations towards the customers. The reserves must be rebuilt before the company can offer a higher interest on policyholders' savings to the customers. Therefore, it makes good sense to leave the money with us.