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Members have the option of increasing their retirement benefits through voluntary, personal buy-ins into the Supplementary Insurance Plan. In this way, they can cover pension shortfalls that may arise, for example, due to a break in employment, salary increases or divorce payments. As a rule, voluntary buy-ins can be deducted from taxable income on the tax return, resulting in tax savings. The insurance certificate shows the potential provisional buy-in amount. Before the first payment is made, members must complete the buy-in form and submit it to the administrative office. The office will calculate the definitive maximum possible buy-in amount on request.

After an early withdrawal for home ownership, no further personal buy-ins can be made into the Supplementary Insurance Plan until the early withdrawal has been repaid in full.

Please note:
A three-year lock-up period applies to lump-sum withdrawals after a personal buy-in. In accordance with the legal provisions, benefits resulting from buy-ins cannot be withdrawn in the form of a lump sum within this period (retirement capital, early withdrawal for home ownership, cash payment due to emigration or commencement of self-employment). Under the Supplementary Insurance Plan, the entire savings capital is paid out as a lump sum upon retirement. Due to the three-year lock-up period, buy-ins into the Supplementary Insurance Plan can only be made up to the age of 62. This also applies to buy-ins or lump-sum withdrawals in other pension funds, such as the Hitachi Group Pension Fund. The tax authorities consider all pension arrangements together. Where members take early retirement and have made buy-ins within the last 3 years prior to their early retirement, such buy-ins will be transferred to a vested benefits account or a vested benefits policy.

We recommend that members thoroughly investigate the deductibility and effects of buy-ins and, if necessary, seek clarification from the competent tax authority. In all cases, members bear the tax consequences of their buy-ins and any lump-sum withdrawals. The Hitachi Group Supplementary Insurance Plan accepts no liability for any objections raised by the tax authorities.

Link buy-in form

Members can choose between three contributions tables for savings: Standard, Standard plus and Standard minus.

In terms of the funding of the savings contributions (staggered according to age) within the tables, the employer’s savings contribution is three times the member’s savings contribution.

Under the Standard plus contributions table, members voluntarily pay higher monthly contributions, which are invested in accordance with their selected investment strategy.

The Standard minus contributions table can be chosen for those periods in life when members prefer to pay no contributions.

The risk contributions for the events of disability and death are the same for each contributions table. Regardless of the table members choose, the employer always pays contributions pursuant to the Standard table. Members can change contributions tables with effect from the following month and must notify the administrative office accordingly.

Where members do not state a preference, they will automatically pay contributions pursuant to the Standard table.

The contributions tables are included in the rules. A simulation tool for contributions tables is available on the online portal for members. The simulation shows how benefits change when you change table and how high monthly contributions would be in a different table.

The savings contributions paid by the employer and the employee are invested in accordance with the member’s selected investment strategy.

The risk contribution (2.5% of the insured salary) is paid in full by the employer and is used for the collective financing of the benefits payable in the event of disability and death.