Everything about the new pension system

Last update: 25 April 2024
After more than ten years of negotiations and many questions in the Dutch Second and First Chamber, the Future of Pensions Act has been passed. The new Act has taken effect on 1 July 2023. The new pensions system will provide future-proof pensions that are better suited to the times we live in and the future. As an employer, you must have converted your pension scheme by 1 January 2028 at the latest. 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 current schemes, the level of the surviving dependants’ pension depends on the salary and the number of years of service. When calculating the surviving dependants’ pension, the state pension offset is deducted from the salary. In the new schemes, the surviving dependants’ pension is a percentage (maximum 50%) of the salary. The number of years of service no longer matters. The state pension offset will no longer be deducted from the salary to calculate the surviving dependants’ pension.
  • With effect from 1 January 2024, the joining age for all pension schemes has been reduced to 18. Employees now accrue a pension from the age of 18.

The animation below explains the main changes in three minutes.

BeFrank Selection Tool

Via your employer portal you can access the handy BeFrank Selection Tool. 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!

Articles on the new Pensions Act

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