​At maturity on 1 Feb 2025

 

This is where you will see the amount that you will be entitled to collect if you are still alive on the expected retirement date. In most cases, the retirement age has been set at 65.
 
Vested benefits:
This is the gross amount claimable on the expected retirement date if you are no longer working as of the status date (see date on benefits statement).
This also assumes that you have kept your reserves invested in your AG plan.

Lump sum (including vested benefits)
If you are still employed with the same company by the time you retire, you will be entitled to collect the simulated lump sum as well as the benefits that have vested through profit sharing.

Simulated lump sum: the projected value of the proceeds you will collect when you retire.
This is the gross benefit amount that you will be entitled to collect if you are still alive on the expected retirement date, provided that:
• the Retirement premium remains unchanged and is consistently paid when due until the maturity date
• your selected options remain unchanged until the maturity date
• there are no changes in certain variables used to calculate your benefits (e.g. your salary or working time percentage)
• there are no amendments to your group insurance plan

This is your gross benefit amount. It does not include any withholding tax, Illness-Disability (INAMI/RIZIV) contribution or solidarity contribution that will be deducted when you retire and cash out of the plan. Under the current legislation, these deductions represent roughly 20% of the gross amount.

Sample case with figures and more information about filing your tax return

What exactly do we mean by "Simulated lump sum"?
In other words, the value may vary if there has been a change in the variables used to make the calculations (e.g. your salary or working time percentage). As a general rule, your benefits should increase every year to keep up with salary increases (due to indexation, pay raises, etc.). However, your benefits could also decrease, for example, if you reduce your working time percentage or leave the company.

Any revision in the interest rate guaranteed by the insurer may also impact the value of your benefits. In any event, reserves that have vested through previous premium payments will continue to be invested at the current interest rate until you reach the retirement date stipulated in the pension plan regulations. Reserves that accrue with new (higher) premiums as of the rate adjustment will be invested at the new interest rate. The impact of this measure will be reflected in your benefits statement.