Everything about the new pension system
Last update: 13 February 2023
The new pension system will provide future-proof pensions that are better suited to the times we live in. In order to comply with the Future of Pensions Act (Wtp), all pension schemes in the Netherlands have to be adapted. The Wtp will most likely enter into force on 1 July 2023. From then on, the pension scheme may be adjusted. Initially, the Wtp would enter into force on 1 January 2023. The pension scheme must comply with the Wtp by 1 January 2027. We understand that this raises questions. On this page, you will find explanations and links to articles about the new pensions system.
In short: What will change?
At BeFrank, the new pensions system entails two changes for most pension schemes:
- In the current schemes, the pension contribution increases as your employees grow older. In the new schemes, every employee, young or old, has the same contribution rate.
- In the new pensions system, the percentages and definitions within the surviving dependants’ pension have been changed to a fixed standard.
The animation below explains the main changes in three minutes:
Are you a BeFrank customer?
If so, you can access the handy BeFrank Selection Tool via your employer portal. At a glance, you get an indication of the impact of the new pensions system on your organisation’s pension scheme. And you can also see the impact this has on your employees’ pensions. Very convenient! This animation shows you how the BeFrank Selection Tool works.
Ask your advisor for advice
Your advisor will help you make the final choices. The selection tool is a useful tool for looking at the various possibilities. With the push of a button, you can download all data and even see the impact per employee. This way you’ll make the right choice together. And, of course, we’re always ready to discuss the options with you!
Would you like more information or to become a BeFrank customer?
Only existing BeFrank customers have access to the BeFrank Selection Tool. If you would like to receive more information about BeFrank, our pension schemes, or our services, feel free to contact us.