Inform your staff members
The various steps:
How do you inform AG EB/HC that your staff member will be leaving?
We must be notified of each departure within 30 days of the employee's departure. Different, specific deadlines may apply to sector-wide plans. This information will be listed in the plan regulations or agreement you have with us.
You can easily notify us of a departure via AG EB Online.
What happens to group insurance and death benefit coverage?
If the employee has group insurance and death benefit coverage, you will need to provide a departure letter together with an option selection form that specifies what they can do with their accrued pensions reserves. There are various options to choose from, but they will need to inform AG EB/HC of their decision within 30 days.
All options are described in detail on MyAG Employee Benefits.
If the staff member decides to transfer their reserves to their new employer's pension plan, transfer their reserves to the AG EB/HC hosting structure or cash out of the contract (if they meet the requirements), the employer will have to make up the deficit if the plan is underfunded.
Benefits statement
On the departure date, along with the option selection form, you will also need to give your employee a benefits statement specifying the value of the reserves and the vested benefits.
AG EB/HC will provide you with both the departure letter and accompanying option selection form and the benefits statement.
What about hospitalisation insurance?
Employees who lose their corporate-sponsored hospitalisation insurance when they leave their employer will always have the option to continue this coverage on an individual basis. This is one of the stipulations of the Verwilghen Act, which also requires you to inform your employee of this possibility.
The right to take out continuation coverage will be granted without any medical formalities to complete if your employee has been continuously enrolled in a hospital plan for at least two years.
A staff member interested in taking out continuation coverage must inform AG EB accordingly within 30 days of leaving the company. This can be done by sending this form duly completed and signed (by the employer and the employee) to AG EB/HC.
Does your employee need a Certificate of Insurance? They can easily request it themselves via the MyAG Employee Benefits platform or app.
