Not all details of the Act on the Future of Pensions are known at this time. However, we can give you some insight into what we are doing to ensure that our pension schemes and supplementary risk cover are ready on time. So you can opt for a future-proof pension scheme as early as 1 January 2023.
Flexible contribution schemes
All average and final salary pay schemes and capital agreements will lapse on 1 January 2027. If you have such a plan, you can opt for a defined contribution plan at Zwitserleven from 1 January 2023. Our defined contribution schemes will be adapted and comply with the new legislation from that date.
- Equal contribution for all participants, age categories will lapse. The contribution is not more than 30% of pensionable earnings. Under certain conditions, the contribution may be temporarily increased to a maximum of 33%.
- Choice of a fixed or variable pension income with the Zwitserleven Variable Pension.
- An investment policy and appropriate life cycles tailored to the composition of all participants per employer.
We are developing a tool to determine the degree of investment risk participants are willing and able to take for each employer pension scheme. The lifecycle offered in the pension scheme may therefore differ from the standard lifecycle. We will then adjust the investment options and lifecycles to the participant population.
Greater clarity for partner's and orphan's pension
The standard partner’s pension if the participant passes away after their retirement date is 70% of the retirement pension.
Partner’s pension in the event of passing after the retirement date
- Insured amount is up to 50% of the participant's salary.
- Years of service and statutory offset do not count.
- A participant will thus know exactly how much their partner will receive if the participant passes away before their retirement date.
- One fixed final age, 25 years
- Up to 20% of the participant's salary. (Up to 40% for full orphans)
How we help you make a smooth transition
The introduction of the new pension system means that you have many choices to make. A new pension scheme, and the implications of the transition from an average pay or final pay scheme to a flexible defined contribution scheme. A lot will also change for the participants. Good guidance for you and participants in making choices is therefore essential. This we will provide, together with your adviser.
It is important to identify the financial consequences of the pension agreement for you and the participants. A tool will thus be developed to show you the differences between the old and the new pension scheme.
You will receive important and relevant information from us about the transition to the new pension system. We do this through the NieuwZ, knowledge sessions, personal e-mails and of course in updates on this page.
Participants will also find information about the pension agreement on our website. A separate page is devoted to informing them about the new pension agreements and rules. We also keep participants informed via the NieuwZ. And the pension agreement is, of course, also one of the topics during our PensioenAvonden.