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“Pensions have been made so complicated that people no longer understand them. This can and must be improved”, stated Edith Schippers and Ton de Boer, Chairman and Deputy Chairman of the PDN Board.

The preparations for new pension regulations are in full flow. The cabinet, employers, and labor unions signed a pension agreement in 2019 in which the essential features are defined. The law will be amended this year based on responses received from all stakeholders during the consultation round. The law is expected to come into effect on January 1, 2022. Employers, labor unions, and pension funds can then start amending their own pension schemes. The new regulations must be in place everywhere by January 1, 2026.

All parties are already preparing for this and are examining how best to organize the introduction of the new pension regulations. Various choices will need to be made at a later phase, including how much investment risk you are prepared to take and how to transfer the already accrued pension to the new scheme. Members’ opinions are important in making these choices. Various organizations will be asking for this opinion including PDN, employers, and employee or retiree groups.

Edith Schippers and Ton de Boer will explain more about this in PDN Magazine, which will be published in mid May. Keep an eye on your mailbox around that time and check out the magazine to see why the new pension regulations are so vital and what the schedule will be.