Law On Modification Of The Law On Old-Age Insurance And Old-Age Savings Indexed (Payment Of Index Appendix Between The 65 Year And 67 Years)

Original Language Title: Lov om ændring af lov om pristalsreguleret alderdomsforsikring og alderdomsopsparing(Udbetaling af indekstillæg mellem det 65. år og det 67. år)

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Read the untranslated law here: https://www.retsinformation.dk/Forms/R0710.aspx?id=124571

Law on modification of the law on old-age insurance and old-age savings indexed

(Payment of allowances between the 65 year index and the 67 years)

WE, MARGRETHE the SECOND, by the grace of God Queen of Denmark, do indeed:

The Danish Parliament has adopted and we know Our consent confirmed the following law:

§ 1

Of the law on old-age insurance and old-age savings indexed, see. lovbekendtgørelse nr. 724 of 15. September 1999, as amended by section 4 of Act No. 1235 by 24. October 2007 and § 10 of lov nr. 1534 of 19. December 2007, shall be amended as follows:

1. In paragraph 3, the words ' Minister ' to: ' the Minister for economic and Business Affairs '.

2. paragraph 3 (a) is replaced by the following: ' article 3 (a). A stakeholder, who turns 60 years of age on 1. July 1999 or later, according to an index contract can choose to have payments of the basic amount referred to in section 4 must begin before the age of 67. years, and that deposits on index contract pursuant to § 5 shall cease from the same time. The payment may, however, be no earlier than the start of interessentens-filled 65. year.

(2). Stakeholder should ask the insurance company or financial institution for payment before the age of 67. year, not later than 1 month before the payment to begin. Withdrawal request before the 67. years shall relate to all interessentens index contracts. '

3. In article 4, paragraph 1, the words ' the age of 65. or 67. years ' to: ' the time when payment begins. '

4. section 4, paragraph 3 is replaced by the following: ' (3). Stakeholder has chosen to let the payments of the basic amount start before the month in which the stakeholder fills 67 years, the monthly payment is reduced by a corresponding amount. '

5. In article 6, paragraph 1, the words ' interessentens 65. or 67. years ' to: ' the time when payments begin '.

6. In article 6, paragraph 2, the words ' from the age of 65. years ': ' before the age of 67. years '.

7. Two places in section 6, paragraph 4, the words ' 65. or 67. years ' to: ' time when payments begin '.

8. Article 6, paragraph 5, shall be replaced by the following: ' (5). Stakeholder has chosen to let the base amount payments begin before the age of 67. year pursuant to section 3 (a), reduced index allowance pursuant to paragraph 3 with a percentage of the index Appendix, the concerned stakeholder would have otherwise obtained by the 67. year. Stakeholder has chosen to let the payments begin at age 65, which is the rate of 17.5% stakeholder Has chosen to let the payouts begin as 66-year-old, is the rate of 9.3%. '

9. In section 7, paragraph 1, the words ' interessentens 65. or 67. years ' to: ' the time when payments begin '.

10. Article 10 is replaced by the following: ' article 10. No show with the payment of premiums or deposits beyond 1 year after maturity leads to lapse of the right to index Appendix of the contract backlog relates. It does not apply to premium payments after the date on which the interested parties have chosen to let the payouts begin. '

11. In article 12, paragraph 4, the words ' Minister ' to: ' the Minister for economic and Business Affairs '.

§ 2

The law shall enter into force on the day after publication in the Official Gazette.

§ 3

The law does not apply to the Faroe Islands and Greenland but may by Royal Decree is implemented in these regions with the variances, as the special Faroese and Greenlandic conditions warrant.
Given at Christiansborg Palace, the 6. May 2009 MARGRETHE r./Claus Hjort Frederiksen