Regulatory Alerts2019-02-25
Added · Updated
Procedure for international individual value transfer to a non-EU/non-EEA institution
Former scheme members may transfer accrued pension entitlements to pension institutions outside the EU/EEA by submitting a request to their Dutch pension provider under Section 87 of the Pensions Act. The Dutch pension provider must demonstrate to De Nederlandsche Bank that specific conditions are met, including individual termination of employment, partner consent, a policy coverage ratio of at least 100%, and that the foreign institution is subject to government supervision. The provider must also supply the names of the Dutch and foreign employers and the foreign pension provider, as well as the foreign institution's pension regulations. De Nederlandsche Bank conducts only a minimal compliance assessment and issues a statement on its findings.