At maturity on 1 Feb 2025
Accrued benefits: this is the gross amount that you will be entitled to collect on your 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 Employe Benefits plan.
Estimated benefits: this is the amount – less taxes and social security deductions – 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, with no lapses, until the maturity date
• the options you have selected remain unchanged until the maturity date
• certain assumptions used to calculate the value of your benefits (e.g. your salary or working time percentage) remain unchanged
• there have been no amendments to your goup insurance plan
This amount may be taken as a single lump sum payment on the retirement date.
Moreover, any revision in the interest rate formally guaranteed by the insurer may also impact the value of your benefits. In any event, reserves that have accrued through previous premium payments will continue to be invested at the current interest rate until you reach the retirement date stipulated in 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.
Your final payout will be determined according to the applicable tax legislation at the time you claim your benefits. Sample case with figures and more information about filing your tax return