Applying for the repurchase of a pension following an accident or an occupational disease that occurred before 1 January 2011
Last update
When an insured party is the beneficiary of an accident pension with a rate that is unlikely to change, it can be repurchased by a payment in capital.
Who is concerned
Anyone who receives an accident pension as compensation for an occupational accident or illness that occurred before 1 January 2011.
Prerequisites
To redeem a life annuity with a rate of between 10 % and 39 %, you must provide evidence of how the capital paid out will be used.
In addition, the board of aldermen of the commune where you reside are invited to come forward within 30 days to decide on the advisability of the repurchase. The repurchase cannot take place before the expiry of this period, except if the board of aldermen has expressly agreed to it.
How to proceed
Repurchase of the pension
The board of directors of the Accident Insurance Association (Association d’assurance accident - AAA) may, at your request, approve the surrender of annuities amounting to less than 40 %.
A pension with a disability rate of less than 10 % is automatically redeemed by the single payment of a fixed capital based on the amount of the pension and your age.
You can also request the repurchase of your pension if your degree of disability is between 10 % and 39 %. In this case, the annuity can only be repurchased with the approval of the AAA’s board of directors, unless the board of aldermen of the commune where you live objects. However, you must provide evidence of how the capital to be paid in will be used.
Capitalisation is not possible if the beneficiary is a minor.
Please note that in the event of successive accidents, all permanent partial disability rates will be taken into account in granting the repurchase.
The payment of the lump-sum amount extinguishes the beneficiary's rights with regard to the AAA.
However, in case of a further deterioration of your health of at least 10 %, you can make an aggravation claim.
Calculation and capitalisation of the pension
The capital sum is obtained by multiplying the monthly pension due at the time of the repurchase by 12 and by the capitalisation factor applicable at the time of the repurchase.
Accident pensions are calculated on the basis of your taxable income. The purchase of the pension can only be requested if the taxable income has been definitively declared to the Joint Social Security Centre (Centre commun de la sécurité sociale - CCSS).
The capitalisation factors used can be found in the Grand-Ducal Regulation of 9 March 2017.
The factor applicable for the calculation is chosen according to your age at the time of the repurchase.
Refusal of repurchase
The AAA board of directors is entitled to refuse a request to repurchase a life annuity if:
- a repurchase is contrary to your financial interests; or
- the board of aldermen of the commune where you live has expressed its opposition to the repurchase.
A refusal issued by the board of directors must be reasoned and may be appealed.
Appeal
Interested parties have several means of appeal at their disposal to assert their rights.
Online services and forms
Who to contact
-
Accident Insurance Association (AAA)
- Address:
-
4, rue Mercier
L-2144
Luxembourg
Luxembourg
L-2976 Luxembourg
- Phone:
- (+352) 26 19 15 1
- Website:
- http://www.aaa.lu
Desk opening hours (with or without booking an appointment via MyGuichet.lu):
Closed ⋅ Opens tomorrow at 8.00
- Thursday:
- 8.00 to 12.00
- Friday:
- 8.00 to 12.00
- Saturday:
- Closed
- Sunday:
- Closed
- Monday:
- 8.00 to 12.00
- Tuesday:
- 8.00 to 12.00
- Wednesday:
- 8.00 to 12.00
-
Accident Insurance Association (AAA)
Benefits department
- Address:
- Phone:
- (+352) 261915 2000
- Fax:
- (+352) 49 53 35
- Email address:
- prestations.aaa@secu.lu
Heures de bureau :
Closed ⋅ Opens tomorrow at 9.00
- Thursday:
- 9.00 to 11.30, 13.30 to 16.00
- Friday:
- 9.00 to 11.30, 13.30 to 16.00
- Saturday:
- Closed
- Sunday:
- Closed
- Monday:
- 9.00 to 11.30, 13.30 to 16.00
- Tuesday:
- 9.00 to 11.30, 13.30 to 16.00
- Wednesday:
- 9.00 to 11.30, 13.30 to 16.00
