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Benefits in the event of retirement

Throughout the membership of an insured person in a pension fund, his contributions and the contributions made by his employer are paid into an individual retirement account, the balance of which is called “retirement savings”. It may be paid as a lump sum or as a pension.

The normal retirement age for persons who are insured with Patrimonia is 65 years (men) and 64 years (women). That corresponds to the age that is currently in force for receiving the OASI pension.

Optional lump sum

The insured person who is not disabled may request the payment of all or part of his retirement savings as a lump sum. He must make an application in writing before he retires by completing the form provided for this purpose.

Calculation of the old-age pension

The amount of the old-age pension is calculated as a percentage of the retirement savings accrued at the retirement age. The percentage applied, which is called the “conversion rate”, is determined by the Board of Trustees. It will be 6.1% in 2024. It is applied to the entire capital of the insured person (obligatory and supplementary parts).

 

 

Frequent questions about your benefits in the event of retirement

At Patrimonia, we listen to you and endeavour to provide precise answers to the questions you ask. We answer below a series of questions that we are frequently asked by insured persons. Do not hesitate to get in touch with us if you are unable to find the information that you are looking for.

 

The pension may be paid when you reach the age of 58, provided you stop working and your employer notifies us that your contract of employment has terminated due to your retirement. The pension is calculated on the basis of the accrued savings capital and the conversion rate that is applicable at the time of retirement.
Your pension certificate indicates the estimated amount of pensions and retirement savings at the full age (see explanation on the certificate). If you wish to know the amount of these benefits at different ages, you can either run online simulations or get in touch with one of our managers.
If the payment of the old age pension commences before the retirement age as defined in the OASI (early retirement), the insured person may request the payment of an OASI bridging pension. This benefit is paid upon commencement of the payment of the old age pension until the age of retirement as defined in the OASI that is in effect at the time of the early retirement. The amount of the bridging pension is calculated on the basis of the salary that is considered valid on the early retirement date. The bridging pension is financed by a withdrawal from the retirement capital acquired on the retirement date. The early retirement pension is consequently reduced. In the event of death during the period of payment of the bridging pension, the benefits to the survivors will be calculated on the basis of the reduced annuity. The entitlement to the payment of the OASI bridging pension does not devolve upon the survivors.
In order receive your old age pension as a lump sum, you must send us the completed form, dated and signed before you are due to retire. If you are married, the form must be signed by your spouse as well. His/her signature must be authenticated. If you are single, divorced or widowed, a recent extract from the marital status records must be attached to the form.
You may choose another option before you are due to retire. After this deadline you are no longer able to revoke the option you have chosen.