Common use of Payment arrears Clause in Contracts

Payment arrears. We make a demonstrable effort to collect the contributions and administration costs. We will notify you and the participant if any payment arrears make it necessary to terminate the accrual of pension. Termination takes place by creating a paid-up policy. After a paid-up policy has been created, the net partner’s and orphan’s pension are no longer insured. The insurance for the waiver of contribution in the event of disability will then also be terminated. Creating a paid-up policy also means that no more investments for Investment Pension will be purchased, except in the case of profit-sharing from the ‘S Net Pension’ profit-sharing pool. Profit-sharing is explained in Section 5.1 ‘Profit-sharing on Investment Pension’ of the Aegon Cappital Net Pension Regulations. Pursuant to the Pensions Act (Pensioenwet), we may terminate the risk insurance policies in this way from three months after notification. Until that time, the risk covers are maintained. Paid-up policies can be created with retroactive effect no later than five months prior to the date of notification to the participant. If you do not pay the contributions and administration costs charged to you in full, we will not accept the payment for processing. In such case we will consult with you.

Payment arrears. We make a demonstrable effort to collect the contributions and administration costs. We will notify you and the participant if any payment arrears make it necessary to terminate the accrual of pension. Termination takes place by creating a paid-up policy. After a paid-up policy has been created, the net (voluntary supplementary) partner’s and orphan’s pension and the ANW shortfall pension are no longer insured. The insurance for the waiver of contribution in the event of disability will then also be terminated. Creating a paid-up policy also means that no more investments for Investment Pension will be purchased, except in the case of profit-sharing from the ‘S Net Pension’ W profit-sharing pool. Profit-sharing is explained in Section 5.1 ‘Profit-sharing on Investment Pension’ of the Aegon Cappital Net Pension Regulations. Pursuant to the Pensions Act (Pensioenwet), we may terminate the risk insurance policies in this way from three months after notification. Until that time, the risk covers are maintained. Paid-up policies can be created with retroactive effect no later than five months prior to the date of notification to the participant. If you do not pay the contributions and administration costs charged to you in full, we will not accept the payment for processing. In such case we will consult with you.

Payment arrears. We make a demonstrable effort to collect the contributions and administration costs. We will notify you and the participant if any payment arrears make it necessary to terminate the accrual of pension. Termination takes place by creating a paid-up policy. After a paid-up policy has been created, the net partner’s and orphan’s pension and the ANW shortfall pension are no longer insured. The insurance for the waiver of contribution in the event of disability will then also be terminated. Creating a paid-up policy also means that no more investments for Investment Pension will be purchased, except in the case of profit-sharing from the ‘S Net Pension’ W profit-sharing pool. Profit-sharing is explained in Section 5.1 ‘Profit-sharing on Investment Pension’ of the Aegon Cappital Net Pension Regulations. Pursuant to the Pensions Act (Pensioenwet), we may terminate the risk insurance policies in this way from three months after notification. Until that time, the risk covers are maintained. Paid-up policies can be created with retroactive effect no later than five months prior to the date of notification to the participant. If you do not pay the contributions and administration costs charged to you in full, we will not accept the payment for processing. In such case we will consult with you.