General Board decides on future pension scheme
At the end of June, the General Board made a final decision on the implementation of the new pension scheme from 1 January 2027. This means that all our participants will participate in a new pension scheme from 1 January 2027. We will convert all accrued pensions to the new scheme. The decisions taken are recorded in legally prescribed documents that have now been submitted for assessment to our supervisors De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM).
“I am pleased with the set of resolutions we have taken, including the decisions on the distribution of the buffer, the compensation scheme and the establishment of a solidarity reserve. These decisions have been endorsed by the trade unions and affiliated companies involved and were taken unanimously by the General Board after a positive recommendation by the Accountability Body.” Jasper Kemme, General Manager
Balanced and feasible
In April we informed you that the Board had confirmed the resolution that it was in principle prepared to implement the new pension scheme, looking at the effects of this scheme for our participant groups. In other words: the General Board then judged that the agreements made by the social partners were ‘balanced’. Now the process has also been completed to assess whether it is technically possible to implement the pension scheme, looking at the costs and the (management of the) risks. The Board also came to a positive final conclusion here and has recorded everything in the implementation plan.
Legally prescribed documents
The resolutions that the Pension Fund’s Board of Trustees adopts based on the transition plan are recorded in three prescribed documents:
- Implementation plan: this document is concerned chiefly with the technical practicability, the costs and the risks of (introducing) the new pension plan and converting the accrued pensions to the new pension plan (entitlement conversion, or invaren).
- Communication plan: the communication plan is part of the implementation plan. It contains a description by the Pension Fund of how members will be informed about the implications of switching to the new pension plan.
- Conversion template: this is an Excel file containing a predefined format for answering questions about the new pension plan and the switch to that new pension plan.
View documents
You can download the implementation plan on our website. You will also find a summary of the communication plan, in which we have included the messages for our members.
Roadmap towards your new pension
If everything proceeds according to plan, we will switch to the new pension plan on 1 January 2027. Before we make the final switch, various steps still have to be taken. Read on for a description of the entire decision process, or see the visual below for a summary. Steps 1 to 6 have now been completed.
Next step
Approval by supervisor DNB
The conversion of accrued pensions to the new pension scheme can only take place after the supervisor DNB has given its approval. The supervisor will assess whether this approval can be granted on the basis of the aforementioned documents. We expect that we will not know until 2026 whether the supervisor has given its approval.
Information for all members
A special edition of our magazine Generaties will be published in September. In it you can read what the changes mean for you and what you can expect from us in the coming period.