How to make your ITPK choice

Why should you choose?

If you make your ITPK choice you adapt your pension to your personal situation. You also have an opportunity to invest the money and receive a good return if the company is successful in its management.

Since 1 July 2007, new companies selected by a procurement procedure and new lower charges have been available for your ITPK. If you made an ITPK choice prior to that date, you can take this opportunity to review your choice. 

Investing your pension money

First you choose the type of management and who you wish to manage your money.

• If you choose a traditional insurance you are guaranteed a minimum interest or a premium guarantee. If the company is more successful in its management, you will receive a higher return
• If you choose unit linked insurance you are taking a greater risk and you are not guaranteed any value appreciation on your money.
   

Do you have a family?

If you have a family you should think about whether you wish to complement the insurance cover you have with survivors’ cover. Put a cross against

• repayment cover if you want your ITPK to go to your family if you should die before all your pension capital is paid
• family cover if you want your family to have a pension in the event of your death prior to age 65.
   

If you are single with no children there is no reason to choose repayment cover or family cover. Instead, all ITPK payments will be saved towards your own pension. If your situation should change, it might be sensible to make a new choice. You can make new choices as often as you wish. 

If you choose repayment cover and/or family cover

• a little less money is saved towards your own retirement pension
   
• in some cases you must also complete the declaration of health included on the form.
   

* As a rule you have ITPK if you were born in 1978 or earlier, but there are also other regulations such as the length of working hours for part-time employees. Contact your personnel department if you were born in 1978 but have not yet received any material on which to make your choices.