Restriction of the right to a pension benefit Sample Clauses

Restriction of the right to a pension benefit. If the death of the participant/former participant or pension beneficiary is disadvantageous to us and one of the following situations occurs, the obligation to pay out pensions will be limited to a maximum of the commutated value of the pension insurance. We use the commutated value applying one day prior to the death of the participant. However, if the obligation to pay out pensions is lower than the commutated value, we start from that obligation. The participant/former participant or pension beneficiary dies as a result of war or armed combat, unless a state of war is concerned as described in Section 6.4 ‘War risk’. We do not limit the right to pension benefit if the death of the participant/former participant or pension beneficiary has been caused intentionally by you alone or by you as co-perpetrator. However, we will then recover the pension benefits from you. We will also do so if the participant/former participant has become disabled as a result of intent on your part, either alone or as co-perpetrator. Payment of pension benefit under the pension insurance is also limited if it is the result of an event that has been designated as terrorism by the Dutch Terrorism Risk Reinsurance Company [Nederlandse Herverzekeringsmaatschappij voor Terrorismeschaden N.V.]. Like most other Dutch insurers, we are affiliated with the NHT. In the event of loss/harm as a result of an act of terrorism, the NHT’s Terrorism Cover Clauses Sheet [Clausuleblad terrorismedekking] and the Settlement of Claims Protocol [Protocol afwikkeling claims] will apply in full. These can be found at xxx.xxxxxxxxxxxxxxxxxxx.xx. You can also ask us for a copy of the text. In the event of a terrorist attack, the NHT will provide each insurer in the Netherlands, including us, with an amount. We will increase that amount by the premium reserve which we are required to hold for the insurance policies pursuant to the Financial Supervision Act [Wet op het financieel toezicht]. We will then pay all benefits resulting from a terrorist attack from that amount together with the reserve. In that case these payments will replace the insured pension benefits. The total benefit will under no circumstances exceed the amount of payment stated in the policy schedule for the pension insurance. As soon as the limited payment has been made, the pension insurance will cease.
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