News item | 28-03-2025 | 15:12
Pension providers are given more time to submit their plan for the transition to the new pension system to the Dutch Bank and Authority for the Financial Markets. They may also use the relaxed indexation rules.
This is stated in a general administrative order that will take effect at the latest on 1 July. It has been arranged that funds that then switch to the new system must submit their implementation plan and communication plan no later than 1 year in advance. At the moment, the extreme submission date is July 1 of this year.
This measure is based on the advice of the Pensions Government Commissioner and aims to give the sector time for a careful transition. The measure had long been part of the underlying regulations that would take effect if the Senate and Lower House agree to the bill on transition periods. This bill gives pension funds an extra year to make the transition to the new system. At the moment it is stated in the law that the transition must be completed on January 1, 2027.
Because the House of Representatives needs more time to handle this bill, pension funds would unnecessarily fall under time pressure when completing their plan for the transition. This would also possibly have financially adverse consequences for pension funds and their participants. To prevent that, this decision has now been taken separately from the handling of the Transition Lines Act.