Notice on Cases of Pension Insurance Account Transfer

The cases of retirement insurance account transfer are regulated according to Article 15 of Circular 115/2013/TT-BTC, specifically as follows:

Illustration (source: internet)

- When the insured person terminates the labor contract or loses their job and is no longer a member of the group retirement insurance contract, the insured person has the following rights:

- Transfer the value of the retirement insurance account from the group retirement insurance contract to an individual retirement insurance contract with an equivalent value at the same insurer, or- Transfer their retirement insurance account to the group retirement insurance contract of the new enterprise. The new group retirement insurance contract may be with the same insurer or a different insurer, depending on the new enterprise.

On the insurer's side, when transferring the retirement insurance account, they must fully perform their responsibilities as follows:

- For cases of transferring the retirement insurance account within the same insurer, based on the policyholder's fee payment confirmation document and the insured person's account transfer request document, the insurer is responsible for transferring the account as requested by the insured person. The insurance company is not allowed to charge a fee for transferring the retirement insurance account.- For cases of transferring to a group retirement insurance contract at a new insurer, within 05 (five) working days from the date of receiving the retirement insurance account transfer request, proof that the insured person no longer participates in the group retirement insurance contract at the old enterprise and is a member of the new group retirement insurance contract, the insurer must transfer the entire accumulated retirement insurance account value up to the time of receiving the transfer request to the receiving insurer after deducting the transfer fee (if any).

For more details, see Circular 115/2013/TT-BTC effective from October 15, 2013.

Thu Ba

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