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.
Charge on policy transfers and surrenders
I have already asked you to transfer my pension scheme from a company which has now introduced a charge on policy transfers and surrenders. What happens next?
We will send you a letter to agree on what to do. You can choose between the following options:
- The transfer should not be made now because the scheme is covered by the charge on policy transfers and surrenders. You give Velliv permission to transfer the value of the scheme if the charge on policy transfers and surrenders is removed within 36 months.
- The transfer should not be made because the scheme is covered by the charge on policy transfers and surrenders.
- The transfer should be made now although the scheme is covered by the charge on policy transfers and surrenders.
- The transfer should be made now because the scheme is not covered by the charge on policy transfers and surrenders.