Becoming a parent
A baby does not affect pension accrual.
The birth of your child does not affect your pension accrual. It is not necessary to report the birth of your child to Pensioenfonds Detailhandel.
After your death, your children will receive an orphan’s pension.
In addition to your retirement pension, you also build up an orphan’s pension. When you die, your children, may be entitled to an orphan’s pension. This is the case until your children reach the age of 18. For children who are studying (i.e. undergoing more than 20 hours of schooling or vocational training per week) the orphan’s pension until the age of 27 at the latest. Your children will automatically receive an application form.
Who are categorised as children?
- Your own and legally adopted children;
- Stepchildren and foster children raised and supported by you.
Amount of orphan’s pension
The orphan’s pension amounts to 20% of the partner pension should you accrue pension rights with Pensioenfonds Detailhandel until your retirement . Every child receives an orphan’s pension. In case there are more than five children entitled to an orphan’s pension, the total of five orphan’s pensions is divided equally among all children. If both parents are deceased, the orphan’s pension is doubled. Each child then receives 40% of the partner pension.
Working more/ less hours or parental leave
After the birth of your child you can choose to take parental leave. Parental leave is a form of unpaid leave. Unpaid leave also includes educational or adoption leave or a sabbatical. In all these cases you can choose to continue to build up the retirement and partner pension. This is called voluntary continuation. You then pay the full pension premium yourself. The pension premium is calculated on your pensionable salary. More information about voluntary contribution.
How to do this
If you want a voluntary continuation you must apply for this to Pensioenfonds Detailhandel. You can also arrange it through your employer. The request for voluntary continuation must be made within 9 months after the end of the participation.
What are the costs?
With a voluntary continuation you pay the entire pension premium yourself. This will be more expensive for you because the pension premium consists of an employer and and employee contribution. With a voluntary continuation you pay both parts. At best, you pay four times as much.
What happens if you do not choose voluntary continuation?
In this case your partner pension will remain insured based on your last paid wage. The only way to end voluntary continuation is sending a registered letter. A cancellation period of 3 months applies. It is not possible to partially stop voluntary continuation or resume it after termination. The voluntary continuation ends without your cancellation:
- After a period of three years;
- On the day before your retire;
- On the day of your death.