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Following years of debate, the Dutch Senate has now also approved the pension system reform. The reform aims to make your pension both more understandable and a better match for today’s society. We will start taking steps to introduce the new system from July 1, 2023. SPF must have switched to the new pension scheme by January 1, 2028, at the latest.

Why new pension regulations?


Click on the animation to view the video 'Ons nieuwe pensioen' (only in Dutch). ‘Ons nieuwe pensioen’ is an initiative of labor unions, employers’ organisations, pension providers and the Ministry of Social Affairs and Employment.

Three Reasons for the New Pension Regulations
1. Clearer and more personalized pension
Many people find that it is currently unclear how much they pay and how much pension they will receive. We’re switching from one pot per pension fund, from which everyone claims their entitlement, to personal pension pots.

2. Pensions can increase more quickly than now
Currently, if things go well with the economy, the pension you hold via your employer sometimes doesn’t increase. That maybe doesn’t feel fair. The new regulations ensure that your pension evolves more directly in step with the economy: If things go well with the economy, your pension can increase more quickly. If the economy takes a turn for the worse your pension will also decrease.

Measures have been taken to prevent major impact from stock markets on your pension and to smooth out increases and decreases. Lower risk investments will be made for older people who are close to their pension age and for pensioners. This means that they won’t see their pension fall so sharply in a poor investment year. A younger employee has more time to absorb any downturns in investments and can therefore take more risks. We will also retain a reserve to enable us to cushion the influence of adverse years.

3. Pensions will better match your career
People change jobs more quickly, stop working for a time, or start working for themselves. The current pension regulations are not a good match for this, which is why new regulations are being introduced. If you no longer accrue pension via an employer or you have a different pension scheme, you’ll soon be able to see more clearly what this means for the value of your pension.

How Will This Affect Me?
You cannot take any action yet. The Pension Agreement is currently being drawn up by the Dutch government and the social partners. The employer and the labor unions then need to take decisions about the future of the SPF pension scheme. The SPF Board also still has to make decisions.

Once all these steps have been taken, we will make a plan that we have already made. This plan sets out how we are going to implement the new scheme. It also states how and certainly afterwards when we start communicating with you, so that it is clear to everyone what is changing. So keep an eye on your mailbox, whether digital or not, in the personal situation.

It is a huge task, and everything needs to be done with care. We see it as our main task to continue to optimize your pension, now and in the future.

More information
Click on our Pension Agreement tile.