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ABP's new pension plan

We will be transitioning to the new pension rules on January 1, 2027. Here you can read more about how this affects your pension, why ABP is transitioning to the new pension rules, and what milestones, plans, and agreements are in place.

Employers' organizations and labor unions (social partners) have reached agreement in a transition arrangement on how to implement the new pension rules in a new ABP pension plan. The ABP Board is looking into ways of implementing this in a balanced manner.

The Accountability Body (AB) has voted in favour of this arrangement by a large majority. Our board has now officially decided to implement the change on January 1, 2027. The plan will be finalized once De Nederlandsche Bank (DNB) has given its approval.

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Why are there new pension rules?

Much has changed in our society in recent years. People no longer spend their entire careers with a single employer and are more likely to change jobs. There are also those who become self-employed or start their own business. 

Also, under the current rules there was no way to increase pensions, even if the investment returns were good and there was plenty of cash on hand. The new rules will change this. Any future increase (or decrease) will depend more on the financial markets and the returns on our investments than is now the case, rather than on inflation. 

ABP has opted for a solidarity-based defined contribution plan

A solidarity-based defined contribution plan is a pension system under the Future of Pensions Act (Wtp) in which contributions are invested collectively, risks (such as longevity) are shared, and a mandatory solidarity reserve is used as a buffer. This type of pension plan most closely resembles the current one. The solidarity-based pension plan is characterized by a personal pension pot within a collective fund, in which financial gains and losses are shared to make pensions more stable.

Much will stay the same, but some things will change

Much remains the same in ABP’s new pension plan. The AOW (retirement pension) will remain in place, you and your employer will continue to contribute, and we will continue to share in both good times and bad. Building good pensions together in a liveable world: that is our mission.  Things are changing, too. Not only for your own pension, but also for that of your surviving dependents.

This remains the same

Once you reach retirement age, you receive AOW benefits from the government. This will remain the case. The Social Insurance Bank (SVB) administers the AOW. Learn more about the AOW at svb.nl.

ABP wants to continue offering a good pension, just as it does now. You will receive your pension for as long as you live. Even if you live to be 120.

You will continue - just as you do now - to contribute to your pension together with your employer. That is the pension contribution. The ratio between your contribution (30%) and your employer’s (70%) remains unchanged.

Once you pass away, pension benefits will be provided for your partner and your children up to age 25. This applies to you if you pass away while you are accruing pension benefits with us through your employment (or due to disability). 

Are you no longer employed? And have you not transferred your pension? In that case, your partner will receive the partner pension that you have accrued up until your retirement (no later than January 1, 2027).

These choices will remain. For example, being able to choose when you want to retire.

Investing is essential for a good pension. We’ll continue to do that for your pension. We will continue to invest all the money for all pensions collectively, just as we do now. However, when it comes to investing, we will take your age into account more than we do at present. We strive to put in place a pension plan that strikes a balance between purchasing power and stability.

We remain united. Just as we do now, we share both the good times and the bad with all participants in the fund.

Are you currently unable to work, or will you become (partially) unable to work whilst accruing pension benefits through your employer with ABP? If so, you will receive - subject to certain conditions - a supplement to your disability benefit (WIA) from the Industrial Insurance Board (UWV). This supplement is the disability pension. You will continue to receive this disability pension under the new pension plan. Under certain conditions, you may also continue to accrue part of your pension for later.  

Here's what's changing

Under the new pension plan, the amount of your monthly pension will depend on the funds (contributions) you and your employer contribute to your pension and how we invest those funds. Your contributions are added to your pension pot along with the returns on your investments. 
These returns can be positive when financial markets are performing well, but they can also be negative when things are going less well. The amount of your pension is not set in advance. This is called a defined contribution plan.

Once we’ve transitioned to the new pension plan, your pension funds will be held in a pension pot with ABP. The pension pot is intended for:

  • the pension for you when you retire (also known as the old-age pension), and
  • the partner’s pension for your partner when you pass away after you have retired 

After the transition on January 1, 2027, we will contribute the following monthly amount to your pension pot: 

  • Funds (contributions) that you and your employer contribute
  • The return on the investments. They can be positive or negative
  • You’ll also see how changes in your personal life or career affect your pension pot. For example, in the event of a divorce, money may be paid to your former partner. Or you will receive additional funds if you transfer your pension from another pension fund.

Just as we do now, we invest the pension funds of all participants collectively. That is necessary for a good pension. By investing, we can help your pension pot grow. Your pension pot fluctuates with the financial markets. 

In our new pension plan, we have sought to strike a good balance between purchasing power and stability. This means that once your pension begins, we aim to ensure that it keeps pace with expected inflation over the long term. That way, you can keep buying just as much, even if prices in stores go up. That’s what we mean by a pension that maintains your purchasing power. This does not mean that your pension will increase by the full amount every year. We cannot rule out the possibility of occasional shortfalls. 

When you pass away, your partner will receive a pension (partner’s pension). There is also an orphan's pension available for your children. Your partner will receive this partner pension for as long as he or she lives. Your children will automatically receive the orphan's pension until they turn 25. That won't change. There are a few key differences compared to today:  

  • Only a partner’s and orphan's pension while you are accruing pension benefits
    Under the new pension plan, partner’s orphan’s benefits are only available as long as you are accruing pension benefits with us through your employment, either because you are participating voluntarily or due to disability. If you leave your job and pass away, the coverage for partner’s or orphan’s pension will end after 3 months. (The 3-month period may be shorter if you find a new job before then.) When you retire, you can decide whether or not your partner will receive a pension if you pass away, and how much your partner will receive. You already have these options available to you. 
  • You can choose to extend your coverage
    You can choose to extend your surviving dependents’ entitlement to a partner’s and orphan’s pension after that 3-month period has ended. You pay the premium for this from your pension pot. This will reduce the amount of your pension. 
  • Partner’s and orphan’s pension depends on the amount of your salary
    Under ABP’s new pension plan, your partner and children will receive a partner’s or orphan’s pension based on your final salary. This refers to the portion of your salary that counts toward your pension (also known as pensionable income). It makes no difference how long you've been accruing pension benefits with us. Full pension coverage will be arranged for your partner and/or children as soon as you join the company.  
  • In some cases, the entitlement to a partner’s or orphan's pension continues for a longer period
    In certain situations, your entitlement to a partner’s or orphan’s pension continues for 3 months without requiring you to pay contributions from your pension pot. Specifically, this is if you receive unemployment or sickness benefits immediately after you stop accruing pension with us. Coverage will continue for as long as you receive unemployment or sickness benefits. Under certain conditions, it may continue for up to 3 months after your benefits end. 
  • Accrued partner's and orphan's pensions will remain in effect
    Your surviving dependents will also receive the partner's and orphan’s pension that you accrued before January 1, 2027. Like your own pension, this pension will fluctuate with the financial markets.
  • Choosing a partner's pension when you retire
    When you retire, you can decide whether or not your partner will receive a pension if you pass away, and how much your partner will receive. You already have these options available to you. 

This is how we distribute the benefit

We calculate the exact total value of the accrued pensions as of the end of 2026. We transfer this total amount to the new pension. Everyone who has not yet retired is given a pension pot. We also calculate how much pension you are expected to receive. We recalculate the amount of their pension for everyone who is already receiving a pension from us. We also replenish the collective buffer.

The better our financial situation is when we switch, the more money we have to allocate. You can find out about our financial situation by looking at our coverage ratio.  For example , with a coverage ratio of 110% , for every euro we have to pay, we have €1.10 in the fund. 

  • 100% goes toward the pensions of all participants. Retired employees receive a monthly pension, while participants who have not yet retired have money deposited into their pension pots.
  • 1.5% goes to the fund’s general reserve.
  • 4.5% for the collective reserve (solidarity reserve). We use this buffer, among other things, to cover unexpected setbacks.
  • 3% goes toward compensation for participants who are still accruing pension benefits and are disadvantaged by the transition to the new pension plan.
  • 0.75% as compensation for increases not granted in the past.
  • 0.25% as an additional increase for all.

You may be eligible for compensation

All participants currently accrue the same amount of pension for every euro they contribute. Your age makes no difference. We invest that money. This will change under the new pension plan. Participants who are accruing pension benefits with us between the ages of 40 and 68 may be more adversely affected by this than others.

We want to provide this group with compensation that is commensurate with the disadvantage they will face when we transition to the new rules. This applies only to participants who are accruing pension benefits with us as of December 31, 2026. We will not know the exact amount until after January 1, 2027. That depends on our financial position at the time we transition to the new rules.

What you can do now

Verify that we have your correct information. If there has been a change in your situation, please let us know as soon as possible. You can easily do this via MijnABP. Or you can give us a call. We are available on weekdays from 8:00 AM to 5:30 PM. 

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