StiPP does its utmost not to make any mistakes in the pension administration. However, it does happen very occasionally that something goes wrong when calculating your pension. For example, if we have not received the correct data or if data is missing. In that case, your pension may be too high or too low.
If it turns out that we have calculated your pension incorrectly, we will make a new calculation based on the new data. What happens next differs per situation:
Your pension has not yet commenced
You have not yet retired and an error has been made in the calculation of your pension capital. The starting point is that StiPP adjusts the pension. You can see the updated pension capital when you log in to My StiPP Pension. Only in special cases does StiPP not adjust the accrued capital.
Your pension has already started and you have not received enough pension
You have already retired and our calculation shows that your pension benefit is too low. In that case, StiPP will adjust your pension immediately. We will pay you the difference between the higher and the previously paid benefit(s). This also applies to the months in which you have already received a pension. This way, you will still receive the pension to which you are entitled. An example: you will receive € 50 per month from 1 January. On 1 June, it turns out that you should have received € 55 per month. From 1 June, you will receive € 55 per month and we will pay a one-off payment of € 30 (six months x € 5).
Your pension has already started and you have received too much pension
You have already retired and our calculation shows that your pension is too high. StiPP will reduce your pension benefit to the correct amount and will contact you personally.
Repayment if you have received too much pension
Normally, StiPP settles the amount to be paid against the pension benefits that you will still receive. You will then receive a lower pension for a period of time. You can also repay the amount in one go or agree on a payment plan. If you do not receive any benefits, StiPP will ask you to repay the excess amount.
Special circumstances
If there are special circumstances or the statute of limitations, you may not have to repay all or no amount of it. In order to be able to assess this, StiPP takes all circumstances into account in its decision.
Examples of special circumstances are:
- You could not have known that your pension benefit should have been lower and you have entered into irreversible financial obligations (such as a mortgage) based on your pension benefit that you will no longer be able to pay with a lower pension benefit.
- StiPP has been sending you incorrect information about your pension benefits for more than three years.
- Your pension was paid off more than a year ago.
If you are unable to make ends meet with the new benefit amount, StiPP can also see if it is possible to agree on a slow reduction of the benefit. You will then have time to prepare (financially) for the lower pension benefit.
What can you do yourself?
In order to be able to calculate your pension properly, it is important that StiPP has the correct information about you. Therefore, check every year whether your personal information is correct. You can find this information on the annual pension overview that you receive from us. The pension overview can also be viewed digitally via My StiPP Pension. Will your contact details change? Please let us know the new one as soon as possible.