JTI Pension Plus provides twice the security: in addition to providing for your retirement, we also integrated added risk coverage. This ensures extra protection for you and your family should the need arise.

This chapter summarizes everything you need to know about when, what, and how funds are paid out.

When is payout? What will be paid out?

(Early) retirement Disability Death
Payout is made … … when you retire (early). … when your employment ends due to reduced earning capacity and you draw an indefinite statutory pension for reduced earning capacity from that point on. … when your employment ends due to death. Your beneficiaries (surviving dependants) receive the payout.
Payout comprises … … the respective current funds in your pension account, i.e. the sum of the basic, and (if applicable) supplementary and plus accounts. … the current funds in your pension account (basic, and - if applicable - supplementary and plus accounts) PLUS additional risk benefits. Once you reach the age of 60, the additional risk benefits no longer apply and you receive the funds in your pension account. The risk benefits are always paid out as annual partial amounts.
Good to know … If you retire early, prior to reaching the respective standard retirement age of the statutory pension insurance, you can request an early payout of JTI Pension Plus once you reach the age of 60.

Employees who begin working at JTI from January 1, 2012 will not be able to receive early retirement benefits until they reach the age of 62.
If you draw a statutory pension for reduced earning capacity, you are immediately entitled to additional risk benefits – regardless of whether the reduced earning capacity is indefinite or temporary.

However, an indefinite reduction in earning capacity is required for payout of the account.
The possible group of beneficiaries (surviving dependants) is limited. In the event of death, your spouse or registered partner is entitled to your retirement funds.

For the supplementary account, you may also designate a significant other as the beneficiary.

If payout to a partner does not take place, your children (if eligible for child allowance) will be jointly entitled to the retirement funds and the additional risk benefits.

More information about the risk benefits with JTI Pension Plus can be found in the chapter Risk Coverage. Here you can also read more about beneficiaries (surviving dependants).

How Are Funds Paid Out?

The payout method can be flexibly adapted to your life situation: lump sum, installments, or annuity – you decide.

If your entire retirement funds, that is the sum of basic, supplementary, and plus account, amount to no more than EUR 15,000, a lump sum is paid out. If your retirement funds exceed EUR 15,000, payout is made in ten annual installments. Moreover, in this case, you or your survivors can also request a life annuity as an alternative payout method.


If you opt for an annuity payment, the value of your current retirement funds is converted into a monthly annuity. The calculation of your annuity is based on recognized actuarial rules and also figures in survivors’ benefits.

What exactly does this mean? If you, the annuitant, pass away, then your beneficiaries (surviving dependants) are entitled to a death benefit. This corresponds to 60% of the value of your remaining pension entitlement converted into capital, which your surviving dependants can choose to receive as a lump sum, installments, or as an annuity.

Lump sum and installments are paid out on or starting January 31 of the following year – this has tax advantages for you.

Good to Know

From the time of a qualifying event (retirement, disability or death) occuring until the last disbursement, interest is paid annually on the remaining retirement funds at the reference interest rate that was in effect when the qualifying event occurred.

By the Way

Information regarding the payout of your funds with the HPK is available in your Human Resources department or directly at the HPK.

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