News item | 13-06-2022 | 12:07
On 1 July 2022, the Decree on the Financial Assessment Framework for Pension Funds will be amended. Thanks to the amended Decree, pension funds can already make use of the amended indexation rules under certain conditions this year. This is the same as the rules that also apply during the transition period to the new system.
By using these indexation rules, pension funds can index more quickly and more than under the existing rules. For example, indexing is possible from a policy funding ratio of 105%. A fund substantiates its decision, among other things, with the expectation to transfer the pensions to the new system and the importance for (former) participants and retirees. Whether and when a pension fund indexes is up to the relevant pension fund. The new rules can be applied (retroactively) as early as 2022. These rules also apply to the supplement decisions for 2023.
Future Pensions Act (Wtp)
In 2019, the government and the social partners agreed on a broad package of measures in the Pension Agreement. In March, the elaboration of this in the Future Pensions Act (Wtp) was presented to the House of Representatives for consideration by Minister Carola Schouten (Pensions).
The new pension law is in line with the current labor market, offers more prospects for indexation and retains the strongest elements of the old pension system. After consideration and approval in both chambers, employers’ organisations, trade unions and pension funds will have a few more years to implement the changes and to inform the participants about them.