Protocol Streamlining Capital Transfers (PSK).

If you have accumulated tax-deferred retirement assets with another provider and wish to transfer those assets to Vive (or vice versa) without immediate income tax liability, the Streamlining Capital Transfers (PSK) Protocol offers a solution. This document explains how to arrange such transfers. This also applies to transfers of pension assets from Vive to another provider.

Vive Pension Plan

Vive's retirement plan includes:

• A personal annuity account.
• A composite investment portfolio.
  
• An investment strategy.
  ‍

The annuity account is blocked to prevent inadvertent withdrawals, which can lead to tax consequences, such as direct withholding of income tax and possibly revision interest. Deposits to this account may be tax deductible. Transfers to or from another provider, without direct income tax withholding, are possible under certain conditions.

PSK

Vive is affiliated with the PSK to ensure a smooth transfer of accrued assets without direct tax consequences. This protocol, supported by the Association of Insurers and the Dutch Banking Association, ensures a "tax-efficient" transfer of value, which does not have to be settled directly with the tax authorities.

Income tax avoidance

A value transfer must be done accurately, because otherwise the tax authorities may levy taxes on the accrued capital. The Dutch Association of Insurers and the Dutch Banking Association have therefore made mutual agreements to make a value transfer go smoothly. This is called "tax-efficient." This means that the transfer takes place in such a way that no interim settlement with the tax authorities is required. These agreements are laid down in the PSK. The parties affiliated with the PSK (such as banks, insurers and investment institutions and companies) have agreed procedures regarding the transfer of value of tax-facilitated products to another provider. Vive is a member of the PSK and operates according to this protocol.

Read more about the PSK on the website of the Dutch Banking Association (NVB) or on the website of the Association of Insurers.

Advice on value transfer

You are responsible for choosing to transfer value to or from Vive. If necessary, seek the advice of a financial advisor to determine whether it is a wise choice to do so. Value transfers may have long-term tax consequences.

How does it work?

a. Value transfer to Vive

Download the form at the bottom of this text. Sign it and submit it to the current provider. Once the current provider receives the form and all required documents, they will initiate the value transfer.

After this, the transfer will be carried out within fourteen calendar days. Does the fourteenth day fall on a weekend or holiday? Then the next working day counts as the fourteenth day. Vive will send you a message as soon as the money has been transferred to Vive by the transferring PSK participant. The provider performing the value transfer may charge a fee.

Link to the form

b. Value transfer from Vive to other provider.

Should you decide to continue the value of your retirement investment account (on an interim basis) with another PSK provider, please notify us in the chat function of the Vive app or by emailing support@viveapp.com. In response, Vive will send an email with the transfer form and an explanation of the form. The form must be returned fully completed and signed. Upon receipt, Vive will make the transfer within fourteen days. The administrative fee charged by Vive for transferring your value to another provider is: (to be determined).

Additional required documents

Additional documents are required in some situations, such as divorce or death. Without these documents, Vive may not transfer your money to another provider.

• Divorce: divorce covenant.
• Death: Deed of death and certificate of inheritance.
• Power of Attorney: Proof of power of attorney.
  ‍

In case the financial institution to which you want to transfer the value does not participate in the PSK, the acquiring financial institution will need an indemnification statement from Vive. Vive will coordinate this indemnification statement with the acquiring financial institution.

Rate of interest

If the 14-day value transfer period is exceeded, the transferring party is obliged to pay statutory interest.