Changes in supplementary DC pension scheme

Mid 2023 it was announced that ABN AMRO Pension Services (AAPS) will discontinue the current supplementary pension schemes in 2024. This will bring about several changes in the net supplementary pension scheme, the gross supplementary pension scheme and the early-retirement scheme of Pensioenfonds Robeco. We have listed what these changes are and whether you need to take action.

In addition to the basic pension scheme, Pensioenfonds Robeco offers three supplementary pension schemes; the net supplementary pension scheme, the gross supplementary pension scheme and the early-retirement scheme. These are the so-called Defined Contribution schemes (hereinafter: DC schemes) for current employees of Robeco and former participants

What is changing for the net supplementary scheme?
This scheme will be discontinued on 1 April 2024. That means that if you are an active participant, you will no longer be able to pay contributions from that date. The (age-dependent) contribution that the employer makes available for this scheme, will be paid out as standard in your salary from 1 April 2024. The accrued capital of the net supplementary scheme for all active and former participants will be transferred via a collective value transfer to a new party once De Nederlandsche Bank (DNB) has approved this. The accrued capital is then no longer part of the pension fund. If you are a participant in this scheme, you will receive a personal notification in the coming months stating to which party your capital accrued thus far will be transferred and whether you need to take action. The net surviving dependents’ pension will continue to be covered for all active participants.

What is changing for the gross supplementary scheme?
Appel Pensioenuitvoering will take over the administration of this scheme in mid 2024. All participants will be personally informed about the new login portal and point of contact for any questions. For participants investing via a lifecycle, your investments remain unchanged. Participants using elective investing need to take action. Elective investing will no longer be possible in future. If you are a participant in the gross supplementary pension scheme and use elective investing, you will have received a letter regarding your options. If you do not make a choice, your investments will automatically be converted to the neutral lifecycle.

What changes for the early-retirement scheme?
This scheme was already discontinued in 2006, which means that from that point no more contributions were possible. Your early-retirement capital will be added to your gross supplementary pension capital once approval has been given by DNB. You may still retire early in the future. In addition to bringing forward your retirement date, there are other flexibilization options, such as opting for higher initial payments. Participants in this scheme will receive a letter about this shortly. Participants using elective investing for the early-retirement scheme do not yet need to take any action.

Questions
We understand you might have questions regarding these imminent changes. Use the link below to go to an overview of frequently asked questions and the answers to them. If you have any other questions, contact the pension fund. You will find answers to the most frequently asked questions here.