Paid-up policies
A paid-up policy is the accumulated pension you have from a former employer. You may also have a paid-up policy if your current employer has converted to a different pension saving scheme for its employees.
Paid-up policies from other companies cannot be moved to Storebrand.
What is a paid-up policy?
- A paid-up policy is pension savings from a defined benefit pension scheme from previous employers.
- Paid-up policies give you a guaranteed payout as a pensioner.
- For most paid-up policies, the gross guaranteed return today is between 2 and 4 percent.
- The money is paid out as part of your total pension.
- The money is mainly invested in interest rates and bonds.
- Paid-up policies may include insurance coverage for disability, children's or survivor's pensions.
Check your options
A paid-up policy includes a guaranteed return plan which obliges us to manage your long-term investments in a short-term manner. This usually entails lower returns and hence a lower pension.
You may influence your dividend by converting to a plan with investment options.