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Payments from the insurance company and from the pension fund

If the total value of the units accrued to a pension account is 700 times the rate of the national pension, upon concluding a pension contract with an insurance premium corresponding to at least the 700-time rate of the national pension, the owner of the units has the right to keep the remaining units at their pension account.

The remaining units

  • can be taken out as a single payment if the sum remaining on the pension account is less than 10 times the rate of the national pension,
  • may be taken out as periodical payments from the pension fund (fund pension),
  • may be used for concluding another pension contract,
  • or paid as an additional insurance premium later.

If the fund pension agreed on for additional payments, the minimum calculated duration of the fund pension will be shorter.

The minimum calculated duration of the fund pension for additional payments
Owner of the unit is 60-64 years old 5 years
65-69 years old 4 years
70-74 years old 3 years
75 years old or older 2 years

Read more: The national pension