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1.

If the PEPP provider provides different forms of out-payments, the PEPP saver shall be allowed to modify the form of out-payments of each opened sub-account: one year before the start of the decumulation phase; at the start of the decumulation phase; at the moment of switching. The modification of the form of out-payment shall be free of charge for the PEPP saver.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-30 · Text as adopted (Official Journal); later amendments are not incorporated in this text.