Additional annuity terms

Please contact support@viveapp.com if you would like to be provided with the English Version of this document.

‍

Additional annuity terms

Vive Invest B.V.

‍

The additional terms below apply if you invest for tax purposes (investing in annuities).

1. Terms and conditions for Annuity Investing

1.1 These Terms only apply if you make use of tax-friendly investments. This is often referred to as an annuity. These terms and conditions apply in addition to the asset management conditions. We refer to these additional terms as Annuity Terms.

The Annuity Terms are in accordance with current tax laws and regulations, including the Income Tax Act 2001. Will the tax rules change? Then we will automatically apply these conditions, but only to the extent necessary to comply with the tax rules.

1.2 An Annuity Account with Vive Invest may only be used for pension accrual. The annuity account is a so-called accrual product.

1.3 The Annuity Account is not intended for retirement benefits. For that, you need a benefit product. Before your retirement date, you must choose where to purchase a benefit product. This is possible with another provider. The accrued pension is then used to pay out money at fixed times. This way, you will receive a certain amount each period. How much that is depends on how much you have accrued pension assets.

1.4 Attention! You can decide how much to deposit into your Annuity Account. But if you deposit more than your annual space, this has tax consequences. Read more about the fiscal space and what it is at www.belastingdienst.nl. Vive Invest does not check whether you deposit less or more than your fiscal space. Ask your tax or financial advisor for advice about this.

1.5 You can deduct the amount deposited when you return your tax return, as long as it fits the rules of the Income Tax Act 2001. Ask your tax or financial advisor for advice about this.

2. What is tax investing?

2.1 Tax investing means that you build up wealth before old age. It is not the intention to withdraw money in the meantime. The investments take place via an investment account that is specifically intended for your pension. This is what we call the Annuity Account. This account falls into box 1. More about tax investments can be found on the website of the tax authorities www.belastingdienst.nl.

3. Who can invest for tax purposes?

3.1 Opening an Annuity Account is only possible for an individual who:

(i) is 18 years of age or older;

(ii) Not acting in the course of a profession or business;

(iii) Lives in the Netherlands and pays taxes there; and,

(iv) Only use the account to accrue a pension if you have too little pension.

3.2 The Annuity Account is in the name of one person. That person is the account holder. So yourself. An and/or Annuity Account is therefore not possible.

4. Get tax advice!

4.1 Get tax advice before you invest for tax purposes. We do not give advice about this.

5. When and how do I receive my pension?

5.1 To receive the funds in your Annuity Account, you must choose a benefits product. You can do this with another provider.

5.2 The benefit phase commences no later than 31 December of the fifth calendar year after the year in which you are allowed to retire. Keep this in mind when you take out a benefit product. Vive Invest does not offer a benefit product.

6. Can I withdraw money in the meantime?

6.1 You may withdraw money from your Annuity Account on an interim basis. But that is not wise because you have to pay some kind of penalty to the tax authorities. This is because you will not use the money you withdraw for your pension, and that is exactly what the tax benefits apply to.

6.2 Do you still want to withdraw money? Then send a request to Vive Invest. We will then transfer the withdrawn amount to your counteraccount. You pay with the tax authorities yourself.

7. What happens in the event of death?

7.1 Your heirs must inform us of your death as soon as possible. We also need proof of your death, for example a copy of a death certificate.

7.2 After your death, your heirs may use a survivor's annuity within the statutory decision period. Your heirs can do that with us. This period ends on 31 December of the second calendar year after the year of death. If that does not happen on time, the tax authorities will see this as bought off. Your heirs must then pay with the tax authorities.

7.3 Between the time of death and when the heirs use the money for a Vive survivor's annuity, the following applies:

(i) There is no deposit obligation on the part of your heirs; and,

(ii) The balance in the Annuity Account at the time of death remains managed by Vive Invest until your heirs indicate to Vive Invest that they want something else. Until then, Vive Invest will continue to manage the investments under the terms agreed with you prior to death. Heirs can ask Vive Invest in writing to amend the investment policy.

7.4 Are there any heirs? And does every heir want a benefit account? Then a benefit product must be chosen from another provider. Vive Invest does not do this.

8. Tax issues you need to know

8.1 If you deposit too much, don't use the money on time, or withdraw too early, you may have to pay taxes. You are responsible for how you arrange this for tax purposes. Vive Invest does not provide advice and is not responsible for your tax matters.