Retirement services (disability included)
- When the social security retirement age is reached, the member can require retirement service either in one lump sum, or in the form of fixed-term annuity service, considering the provisions concerning both the vesting and waiting periods. In case the member choses the fixed-term annuity service, the duration of the annuity payment can be any whole years between 5 and 30.
The annuity service can only be required, if the calculated amount of monthly annuity reaches HUF 5,000 (or the equivalent amount in EUR). Both lump sum and monthly annuity payments are charged with disbursement costs as laid down in the company’s Organizational and Operational Rules.
- In case of at least 50%, or more reduction in work capacity (disability) a monthly annuity, or lump sum payments will be executed after the presentation of the documents specified in the OOR, according to the employee’s choice and regardless of the vesting period. For the duration and minimum monthly amount of the annuity service, the rules of the previous section shall be applied.
You can claim for our retirement services by filling in the downloadable form on our website.
In case of the member’s death after the expiry of the vesting period the balance of the member’s account at the date of death will be paid in a lump sum to the legal heirs or beneficiaries designated by the member. The form for beneficiary designation can be downloaded from our website.
In case of the member’s death during the vesting period the employer can choose the option to have the balance of the member’s account credited to the other members within the same pension scheme. In case the employer does not want to choose this option, the IORP shall act in accordance with the process described above in case of the member’s death after the expiry of the vesting period.
Requesting retirement benefits or death benefit can be done by downloading the concerning documents from our website.