We hope, of course, that you remain healthy, and live for a very long time. Still, it’s good to take a moment to think about what happens after you die. This is because the survivor’s pension with SPIN is insured on a risk basis, and this insurance stops when you leave employment or retire.
AtMySPIN you can see how much pension your partner and child(ren) will receive if you die while employed by IBM or Kyndryl. There you will also see approximately what they can count on if you die after retirement.
Do you think the pension for your partner after your death is not high enough? Then you can arrange for a higher partner’s pension through SPIN. How you do that depends on your pension plan(s).
If you participate in the DB scheme, you can increase the partner’s pension at SPIN by surrendering part of your retirement pension. You will then, as it were, exchange part of your retirement pension for (extra) partner’s pension. Your monthly pension benefit will therefore be lower. You can arrange this when you retire or leave employment.
Do you have a DC capital? Then you can voluntarily deposit extra money. In this way you ensure a higher DC capital, with which your survivors can purchase a higher benefit after your death. Depending on your age, this will yield more or less. Ask our service desk about this.
When you retire, you use your DC capital to buy a pension from an insurer. This can be a partner’s pension in addition to a retirement pension.
In addition, you can take care of extra money for your dependents outside of SPIN. For example, by taking out death risk insurance. There are many insurers who offer such insurance. You can often determine the amount and duration.
More information about the partner and orphan pension can be found on our website and in your personal online environment MySPIN. You can also read more about this topic in the What’s on? of Spring 2023.