Early withdrawal for your own home

Early withdrawal of vested-benefit capital increases the accountholder's available assets and reduces the applicable interest payments. Capital may be withdrawn early in order to pay off the capital component of a mortgage, but not the interest.

Timeframe for early withdrawal
The accountholder may withdraw vested-benefit capital for the purpose of home ownership no later than three years before the date on which he/she would automatically become entitled to retirement benefits.

Frequency of early withdrawals
Early withdrawals are only possible every five years.

Restriction on the right of disposal
The restriction of the right of disposal is noted in the land register by the Vested Benefits Foundation at the time the early withdrawal is paid out. The restriction of the right of disposal means that the accountholder is not at liberty to sell or lease the property in question until the sum advanced has been duly paid back to the Vested Benefits Foundation.

Repayment obligation
If the property bought with the aid of the vested-benefit capital advance is sold or leased, the advance becomes repayable. Likewise, a repayment obligation may apply under certain circumstances in the event of the accountholder's death.

Voluntary repayment
If no pension benefits become payable prior to this date, voluntary repayment of the capital advance (in part or in full) is permitted up to three years before the date on which entitlement to retirement benefits commences.