New pension system

New pension system

Renewal of the Dutch pension system (insured scheme)


What are the practical implications of a new pension system?

We will get a new pension system! The proposal on the Future Pensions Act (Wtp) submitted by Dutch Minister Carola Schouten was accepted by the senate on 30 May 2023. The new pension system is therefore a fact. The new pension system will take effect on 1 July 2023, with a transition period until 1 January 2028.

For employees entering employment after the introduction of the new pension system, only one pension scheme will soon be possible, a defined contribution scheme with an equal contribution rate for everyone. Do you have an existing -insured- scheme? If so, you may choose to continue this one for existing members until they all leave employment. An average-salary pension scheme or a final salary scheme are no longer allowed.  

How to prepare for a new pension system? 

We advise employers to first draw up a time plan in which you establish when you will take which steps. This gives peace of mind and creates clarity within your organisation. After all, circumstances may apply to your company that determine the urgency of certain actions. For example, think of a planned takeover, merger or an intended harmonisation of employment conditions. Depending on the circumstances applicable to your company, the lead time of the entire transition can be considerable. Of course, your personal advisor will be happy to help you create your time schedule.  Other activities you can initiate in anticipation of the final legislation are: 

Composing a pension committee
We also advise employers to set up a pension committee. This committee will guide the transition to the new pension system. By doing so, the employer creates resilience in the decision-making process. It is important to bring the pension committee members’ pension knowledge to the same level, e.g. through training or workshops. After all, they have to take important decisions later in the process.

Reassessing pension vision
In the past, pension schemes were put together based on a certain vision. An important question is whether this HR vision is still valid. If not, it is wise to shape a new vision. In that case, take all major developments in consideration such as inflation, CSR policy and the 'war for talent'. Only when the company has a clear idea on how it wants to position itself, you can proceed with putting together the total benefits package, the pension scheme and the redistribution of the available budget. 

Impact report
It is important that you work out scenarios that clarify the impact of any choice you make. A professional advisor can help you with this. He or she can not only calculate the pension costs for the next 5 - 10 years, but also clarify the impact on members' pensions. The scenarios and the consequences of any choices are presented in an impact report. The report also advises you whether you should maintain the current scheme for existing employees or convert everyone to a single new scheme. You can share the report with the pension committee and/or works council and this enables you to make a careful decision. 

Do you -still- want more information? 

The government has introduced two platforms that focus on knowledge sharing around the new pension system. Relevant information for stakeholders such as employers and works councils can be found here. More general information and information for individual employees can be found hereWe realize that these platforms contain a lot of information and that could make your head spin. On our website, we therefore limit ourselves to the main points. More specific or specialist information is always available through your personal adviser.




Spring: Government

On 30 March 2022, the proposal was sent to the Dutch parliament. Subsequently, it has to go to the Senate.


The Dutch parliament agreed

A few final amendments to the proposal were agreed on 20 December. The amendments were approved on 22 December.


Senate debate

On 17 January 2023, the senate starts consideration of the Future Pensions Act.
Read more


Frequently asked questions

When will the new pension system take effect?

The new pension system takes effect on 1 July 2023 and there is a transition period until 1 January 2028. 

A new pension system, what does that mean for me?

Every employer has to deal with the consequences of a new pension system. Do you have an insured scheme? If so, you may design the new scheme yourself,  in consultation with the Works Council. Do you have a scheme with one of over 200 pension funds? Then you will depend on the decisions taken by social partners that are written down in a collective agreement. 

What does the new pension system mean for HR?

Does the HR department have worries about choices?  From an HR policy perspective, it seems attractive not to use the transitional law but it does not have to be that way. Read more about the options and the pros and cons in our e-paper.

Sonja Koopmans

Wilt u meer weten?
Sonja Koopmans staat voor u klaar.

I am happy to be your sparring partner on the way to the new pension system. My strength lies in using clear language in my advice on which steps to take and how to keep financial consequences manageable for both you as employer and your employees.

Eric Vlietman

Wilt u meer weten?
Eric Vlietman staat voor u klaar.

My experience as a pension fund manager and negotiator with unions and employees makes me a versatile Pension Consultant who explains the complex pension matters in simple terms. I always have a keen eye for employees' perspectives.