A higher level of benefits
The Hitachi Group Supplementary Insurance Plan covers its members in various circumstances of life, providing supplementary benefits in old age and in the event of disability and death.
The Supplementary Insurance Plan pays temporary pensions to spouses or partners and children provided the conditions set out in the Rules are met. The spouse’s pension for active members amounts to 60% of the disability pension. Instead of the temporary spouse’s pension, members may also claim a lump-sum payment of the equivalent value of this pension.
Further information is provided in the rules.
The minimum death benefit in the case of active and disabled members who die before retirement is 100% of the insured risk benefit salary.
Depending on the case, a higher amount may be paid out. The relevant provisions are set out in the rules.
Where members who have made personal buy-ins into the Hitachi Supplementary Insurance Plan die before retirement, the equivalent value of such buy-ins is paid to the surviving dependants as an additional death benefit, taking into account any early withdrawals for home ownership and divorce payments.
Irrespective of right of inheritance, survivors are entitled to payment in the following order of precedence* and amount:
- the spouse and eligible children; in the full amount
- partners or individuals who were supported to a substantial degree by the deceased member before his or her death; in the full amount
- other children, parents or siblings; in the full amount
- other legal heirs, excluding the state, in half the amount
You may determine which individuals among the eligible groups are entitled to the death benefit, and in what proportions, by submitting written instructions to the Supplementary Insurance Plan. The instructions must be submitted during your lifetime. If no such instructions are given, the death benefit is divided equally among the eligible group.
* In the absence of the preceding level, the next level in the order of precedence becomes eligible.
Members with a recognised disability are entitled to a temporary disability pension from the Supplementary Insurance Plan. The full disability pension amounts to 65% of the insured risk benefit salary. The disability pension will be paid out until regular retirement age at which point the retirement capital will be paid.
Retirement benefits can be drawn between the ages of 58 and 70. The regular retirement age is 65.
Retirement benefits under the Supplementary Insurance Plan are paid exclusively as a one-off lump-sum payment.
All claims against the Supplementary Insurance Plan expire when the savings capital is withdrawn.