All information about the pension agreement.

Pensioenakkoord

Together on the road to a new pension system

We are on the way to a personal and transparent pension system that is better suited to the developments in our society and the labour market. By 1 January 2027, all pension schemes must comply with the new Act on Future Pensions. Zwitserleven will be pleased to help you with the transition to the new pension scheme. .

Zwitserleven and the pension agreement

Zwitserleven pension schemes

Zwitserleven pension schemes

If you want to take out a new pension plan with us, then from 1 January 2023 you can only opt for a defined contribution plan. If you already have a pension plan, this will apply from 1 January 2027. At Zwitserleven and Zwitserleven PPI we have the Zwitserleven Exclusive Pension and the Zwitserleven Nu Pension. With a few adjustments, these pension schemes will comply with the Act on Future Pensions in time.

Together with you, we will ensure a smooth transition

Together with you, we will ensure a smooth transition

The introduction of the new pension system means that you have to make many choices.

Communication

The first milestone in the implementation of the pension agreement is 1 January 2023. This is the date on which our defined contribution schemes have to comply with the rules and agreements of the new legislation. From then, you have until 1 January 2027 to switch. Important milestones about which we will communicate with you, your adviser and the participants at various times.

Transition period

From the date the Future of Pensions Act comes into force, pension providers will have four years to adjust their pension schemes. Its entry into force is still scheduled for 1 January 2023. This means that pension providers and employer and employee representatives must be ready by 31 December 2026.

The new pension agreement

One arrangement in the pension agreement that has already taken effect is to have the state pension age increase more slowly. The Act on changing the link to the state pension age came into force on 10 December 2020.  

Slower increase in state pension age

The state pension age will continue to be linked to life expectancy. From 2025, the state pension age will increase by 8 months for each rise in life expectancy of one year, instead of by one year. The standard retirement age follows the development of the state pension age.

We summarise the changes in the Act on the Future of Pensions and the Act on One-Off Payments, Early Retirement Arrangements and Leave Savings below.

Act on the Future of Pensions

1. New contract types

Average and final pay schemes and capital agreements no longer appear in the new legislation. You will only be able to offer your employees a defined contribution scheme.

2. Contribution no longer age-related

The amount of the contribution in the defined contribution scheme will no longer be age-related. You will pay the same contribution for each participant, regardless of their age (flat rate).

3. Investing after the retirement date

We will have two types of defined contribution schemes, the solidarity scheme and the flexible scheme. In the solidarity contribution scheme, continued investment after retirement becomes the only choice. In this scheme, a participant cannot opt for a fixed pension. Zwitserleven offers the flexible contribution scheme. In this scheme, a participant can choose a lifelong, fixed pension income or continue to invest after retirement with all or part of their accrued pension capital.

4. Surviving dependants’ pension becomes clearer

The amount of partner’s and orphan’s pension will no longer depend on the number of years of service. The partner’s and orphan’s pension will be calculated on a percentage of salary.



Legislation on one-off contributions, early retirement and leave savings

5. One-off contributions

A participant may withdraw part of their accrued pension capital on their retirement date as a lump sum and spend it without restrictions. The amount withdrawn may not exceed 10% of the pension capital available for retirement pension on the retirement date, and must be taken as a lump sum. One of the conditions is that the remaining pension capital may not fall below the commutation threshold for small pensions.

6. Early retirement and leave savings scheme

We do not offer products for these schemes. Information on these schemes can be found at rijksoverheid.nl.

More about the pension agreement

Compensation schemes lead to the use of non-retroactive effect.

Compensation schemes lead to the use of non-retroactive effect.

The recent document with questions from the Dutch House of Representatives about the new system and Minister Schouten’s answers to those questions may raise some eyebrows. A column by Berry van Sonsbeek.

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Advantages and disadvantages of a flexible contribution scheme.

Advantages and disadvantages of a flexible contribution scheme.

In the new pension system, we have two types of contribution schemes: a flexible and a solidary contribution scheme. In essence they have much in common. The main difference is in the way the returns reach the participants and the extent to which solidarity reserves are used.

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In gesprek over het pensioenakkoord.

In gesprek over het pensioenakkoord.

In een serie van 6 interviews gaan we in gesprek over het pensioenakkoord. Welke uitdagingen en kansen brengt het pensioenakkoord met zich mee?

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Continuing the average pay scheme or switching to a pension fund.

Continuing the average pay scheme or switching to a pension fund.

In this blog, a real-life case study will be discussed. It is an average pay scheme provided by an insurance company that is swapped for an average pay scheme with a better accrual percentage provided by a voluntary industry-wide pension fund.

Readtime 8 minutes