Guarantee of entitlement
Any accrued entitlement capital is protected and cannot be lost. As to when you can dispose of it, depends on the duration of contribution payments and the reason for the termination of the employment relationship.
A client is entitled to dispose of his/her severance capital if 36 monthly contributions have been paid up to termination of the employment relationship and if the employment was terminated for one of the following reasons:
- mutually agreed termination
- notice of dismissal by the employer
- end of agreed period of employment
- wrongful dismissal
- justified premature resignation
- resignation by the employee in part-time employment subsequent to maternity or paternity leave
The requisite 36 monthly contributions can result from any number of employment relationships with different corporate staff and self-employment provision funds.
In any case, the client’s entitlement is valid
- in the event of retirement, or termination of an employment relationship on reaching the age qualifying for early retirement pension,
- if no contributions to any corporate staff and self-employment provision fund have been paid for five years
- upon death
Upon the death of the employee, the capital accrued will be paid out to his/her dependants or is incorporated into the deceased’s estate.
There is no immediate entitlement to disposal if you
- terminate the employment relationship yourself, have justly been dismissed or resign prematurely in breach of contract
- have not accumulated 36 monthly contributions.
Please note that in such a case your entitlements do not lapse but continue to be invested with APK Vorsorgekasse AG