How to proceed?

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We detail the agreements in an implementation plan

The pension fund board must detail the transition plan in an implementation plan. The pension fund’s accountability body advises the pension fund board on this.

In addition, the pension fund’s supervisory board must agree to the implementation plan. The Nederlandsche Bank (DNB) must also agree. Only then may the pension fund start implementing the new scheme. In our planning, we now assume 1 January 2026. But it could run out.

Communication part of the implementation plan
In the implementation plan, we address a number of technical components such as data quality, risk analyses and outsourcing. But the communication plan is also part of the implementation plan. In this communication plan, which incidentally has to be approved by the Netherlands Authority for the Financial Markets (AFM), we write down how we will communicate with you, about the choices you can make, whether you need to take action, how we will convert your pension entitlements into pension capitals and much more.

A little patience
We are working hard on your pension under the new rules. We want to go through all the processes as carefully and even-handedly as possible, and that may take some (more) time. We want to submit the implementation plan and the communication plan to DNB/AFM by the end of 2024. Only in the run-up to the envisaged transition on 1 January 2026 will we be able to provide more insight per participant into what the transition means in euros for your pension (benefit). Until then, we ask for your patience, in the knowledge that the expectations for your pension in the new scheme are positive.

 

See how the social partners justified their choices