New pension rules
Following the enactment of a new pension law in 2023, there are big changes coming to pensions in the Netherlands. In very simple terms, all current average and final salary defined benefit pensions plans that exist in the Netherlands are closing and being replaced by defined contribution plans before 2028.
In 2021, a working group with representatives of employees and employers was established to assess the new legislation as it developed. Following the enactment of the new pension law, this working group has been considering new arrangements and their implementation. Work continues on the development of the transition plan, and the current expectation is that the new pension arrangements will be in place by 1 January 2026.
You can read more about it here (information in Dutch).
Why new rules?
The existing rules for pensions are no longer adequate. Due to their dependence on interest rates, pensions have become increasingly expensive. And existing rules insist that we maintain high buffers. That comes at the expense of your pension. The new pension law increases the chance of a pension aligned with the cost of living. We are also ageing and the labour market is changing. The new pension law takes this in account. But a pension is an employment benefit. The employers and the works council decide on this together. This is why they will discuss a new pension scheme together. This must follow the new rules that will apply to everyone, young and old, whether you are currently working or have already retired.
You can find more information about:
The changes
The planning
Below are some translated Newsletters that were sent in Dutch about the new pension scheme:
Would you like to know more?