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Pension Plans

General Information


Can I transfer my vested rights? And under what circumstances?

Regulations consider the possibility of participants transferring their vested rights to another pension scheme and that beneficiaries can transfer their financial rights.

In individual and associated schemes:

Participants' vested rights can be transferred by unilateral decision or the termination of the scheme. When participants designate the pension scheme to which they wish to transfer their vested rights, a certificate issued by the destination scheme must be included, which contains their acceptance and, for the purpose of making the transfer, data identifying the pension scheme account in which they are participating. The transfer will be made within 7 business days from the reception by the destination management entity of the notice and the necessary documentation.

Beneficiaries may request the transfer of their financial rights under the conditions set out in the specifications, without this transfer entailing any modification in the type or conditions under which benefits are paid.

In occupational schemes:

Vested rights cannot be transferred to other schemes, except if employment is terminated, if this was set out in the scheme specifications, or upon termination of the pension scheme.
The beneficiaries' financial rights cannot be transferred, except if the pension scheme is terminated.