PLUSpension is a pension insurance offered to employees of the Volvo Group or Volvo Car Corporation. PLUSpension is a traditional insurance. VFF Pension is the insurance provider.
As of 2019, PLUSpension is closed for subscription, premium payment and capital inflows. Existing PLUS pensions are not affected. Your PLUS pension will be managed and administered as before.
Traditional Asset Management
Traditional management is the choice for you if you want a secure placing where you will get guaranteed interest and a bonus when the managed fund generates a surplus.
The bonus is not guaranteed and may vary over time.
YOUR PENSION PAY-OUT
About 4 months before you turn 65, we will send you a letter about your pension pay-out. It is only then you need to decide when you want to start receiving your pension. If you want to start pension pay-outs before turning 65, you have to contact us.
The pension is normally paid out over 5 years, between ages 65 and 70. The earliest start is the month after you turn 55, and the latest is the month you turn 70. Pensions are taxed as income.
The size of your pension varies depending on when you start drawing it, and the pay-out period you choose. Paid-out pensions are taxed as income.
Do you want to start taking your pension? The form you need can be obtained under Forms and Documents in the form of PDF files.
HOW MUCH WILL YOUR PENSION BE?
Your pension is based on paid-in premiums and guaranteed interest, which at present is 0.7 % before deductions for fees and taxes. Any return over and above the guaranteed interest is in the form of a bonus and is not guaranteed.
Survivor’s protection/repayment cover
When signing up for a new traditional PLUSpension, you chose whether you wanted survivor’s protection or not. In the event of your death, your pension will be paid, in the first instance, to your spouse/cohabiting partner/registered partner and, secondly, to your child(ren). You can choose to amend the order of beneficiaries or cancel the repayment cover. To make an amendment, please use the Amendment to Beneficiary Clause form, which you find in the section “Forms and Documents”.
TRANSFER OF PRIVATE PENSION INSURANCE
Transferring your private insurance means that the entire value of your pension insurance is transferred to a new traditional pension insurance with the same person as the insured party. See our checklist here for more information on what to think about before making up your mind to transfer.
The current transfer fee is 1 % of transferred capital, at least 800 SEK.
The bonus rate is 9% as of September 1st 2019.
1 % in premium fee
0.4 % in annual fee on pension assets
Terms and conditions
Terms and conditions for PLUSpension, traditional management is found in the section “Forms and Documents”.