The new pension law
The Future Pensions Act - the basis for the new pension system - went into effect July 1, 2023. Until January 1, 2028, we are in a transition period. From then on, all pension plans must comply with the new law.
The pension system is becoming more personal. Instead of the defined benefit pension we have now, everyone will have their own pension savings pot based on a contribution promise. The pension fund invests the money. So the pension benefit can vary depending on the return on investments. However, the premium paid each month is fixed.
This method of pension accrual is thus based more on the individual rather than the collective. The pension administrator - in consultation with employers and employee associations - can still opt for collective administration.
Partner's pension
"The partner and survivor pensions are also getting a makeover. For example, the partner's pension will become more uniform. Now, for example, the definition of partner can vary from one pension plan to another; there will soon be general rules for that. That also applies to rules about registering your partner for the partner's pension and similar matters."
Petri de Rechter
Wealth advisor at Alpina Roerdalen
For the partner's pension, the rules will become more uniform. This makes it clearer for surviving dependents what they can count on. For example, coverage will no longer be linked to length of service. Pensionable salary will become a maximum of 50 percent in the new system.
The orphan's pension will also change. There will be a final age of 25 and the maximum pensionable salary will be 20 percent.
The pension system is going to change a lot, but there are some things that will stay the same. For example, you are still entitled to AOW. Also, the pension will remain collectively regulated, so as an employee you cannot choose where to build up your pension.
