Heeft u Engelstalige werknemers in dienst? Dan kunt u onderstaande tekst over de nieuwe regels voor pensioen met hen delen.
New pension rules
On May 30, the Dutch Senate passed the Future of Pensions Act (Wet toekomst pensioenen, Wtp). This new law ensures that pensions are better suited to the demands of our times. The legislation will apply to all pension funds in the Netherlands.
The Netherlands has one of the best pension systems in the world, but the system was in need of an overhaul. For example, pensions currently cannot always be increased even when the economy is doing well. And pension schemes currently fail to take into account that people usually no longer work for the same employer all their lives. Therefore, trade unions, employers’ organizations and the government have together made agreements to modernize the pension rules. These agreements are laid down in the Future of Pensions Act.
How will the pension system be improved?
The strengths of today’s pension system will be retained. That means you will continue to receive a state pension (AOW) from the government. Also, you and your employer will continue to pay in pension contributions towards a lifelong pension. Pension Fund ABP will invest these contributions to increase the pension assets.
The biggest change is that, under the new rules, you will accrue personal pension assets from which your lifelong pension will be paid when you retire, rather than paying into a collective pension pot. Personal pension assets give you more insight into the pension you have accrued.
In addition, investment results will have a bigger impact on the amount of your personal pension assets. This means that your pension will fluctuate. It will rise when the economy is strong, but it will fall during economic downturns. There will be rules in place to ensure that pensions do not decrease too much. We will ensure that we have enough funds in reserve to prevent an excessive drop in the amount of your pension.
When will I notice the impact of the changes?
You will not notice any of these changes in the near future. The Future of Pensions Act will take effect from July 1, 2023, but pension funds will have a few years to transition to the new pension rules. We will keep you informed of the steps we take. You can find the latest information on our website at www.abp.nl/vernieuwd-pensioenstelsel. Here, you can also find information about the legal right of pension participants to be heard.