In May 2021, the minister indicated that there was a delay in the legislative process. The Future Pensions Act is currently being discussed in the Dutch House of Representatives. Once the House of Representatives has approved this, the new regulations will enter into force on July 1, 2023. In the coming years we will gradually take steps to apply the new system. PDN must switch to the new pension scheme by January 1, 2028 at the latest.
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The new pension system retains the strengths of the current system:
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 are going to decide on the future of the PDN pension scheme. The PDN Board also still has to make decisions. It will therefore take some time before it is clear what the Pension Agreement means for you personally.
From 2025, you will be able to withdraw an amount. This is how it works: When you retire on a pension, you can choose to have part of your accrued pension paid out as a lump sum. This is laid down in a new law. But this is still under discussion in the Senate and the House of Representatives. The new pension choice will now take effect on 1 January 2025 at the earliest. This was announced by the government.
You cannot withdraw your entire accrued pension at once – you can withdraw up to 10% of your pension. If you withdraw a lump sum, your monthly lifelong pension will be reduced. You have to decide for yourself whether you can live the way you want to with that lower pension. At the moment, we cannot say what it means for everyone personally. We cannot yet make calculations or give sample amounts.
Withdrawing a lump sum can have consequences for your tax return and for any benefits you receive, such as care benefit or rent benefit. The consequences depend on various factors, such as the amount of money you withdraw. Your personal situation also plays a role.
When you retire on a pension, you can opt for a lump sum. You can also decide what you spend your money on.
If you stop working before your State Pension Age (AOW age), PDN offers you the option to choose a higher pension up to your AOW age. However, you cannot opt for a lump sum as well, as this combination is not permitted by law.