What you should know
The pension fund and associates are discussing the concrete details of the new pension system. During this process, we keep you informed.
The text continues after the videos
Employers and trade unions will determine the new pension scheme
Pension is an employment condition. That is why trade unions and employers will decide on the content of your new pension scheme. Because the law is changing, keeping the current pension scheme is not an option.
The pension agreement of 2020 will serve as the basis for the new pension law. This pension agreement is in outline form. The agreement has now been elaborated in the Future of Pensions Act (Wet toekomst pensioenen). The Senate has yet to approve this Act. This is expected to happen in 2023. The new Act will enter into force on 1 July 2023 at the earliest.
Discussing which rules are best suited to APF Pension Fund
In the meantime, as a pension fund, we are discussing the concept of the new pension scheme with employers and trade unions. Your opinion is important in this process. For this reason, APF Pension Fund sent out a questionnaire in June regarding your risk preference. One important question is how much risk you are prepared to take for your pension in exchange for the chance of a higher benefit. This will affect the new pension scheme.
What is APF Pension Fund’s role?
Once the content of the new pension scheme has been decided on, we can then also determine what the new pension scheme will mean for you personally. We will inform you about this personally at a later date. The value of your current pension entitlements with APF Pension Fund also determines your future pension pot.
As a pension fund, we are also looking at what we need to change in terms of our pension administration, our asset management and our policies. We are adjusting our systems to this end. We are doing this in cooperation with our pension providers.
Our aim is for your new pension scheme to commence on 1 July 2025.
We will give you regular updates on the developments. Please be sure to follow the updates on our website. Then you will always have the latest news.
Your new pension scheme
You would like to know what will change in your pension scheme. At the moment, nothing changes for you. The law states that the new pension scheme is required to commence no later than 1 January 2028. But our aim is for your new pension scheme to be introduced earlier, on 1 July 2025.
Your pension will fluctuate in line with the economy
With the new pension scheme, you will get a pension pot with your own pension capital. The new pension rules will ensure that the amount of your pension will be higher than it is now. Your pension will increase sooner if the economy is doing well. But it will also decrease if the economy is less healthy. You will therefore receive a more variable pension benefit.
You can also opt for a fixed pension benefit. Then the amount of your pension will no longer be dependent on the economy, but in turn there is also no expectation of a higher pension. Choosing between a fixed or variable payment is only possible if the Flexible defined contribution pension scheme is chosen definitively. With the Solidarity defined contribution pension scheme, you cannot choose a fixed pension benefit. With that scheme, the benefit is always variable.
Insight into approximately how much pension you can expect
We will soon show you how much of your pension contributions is being invested. This will give you more insight into how much we are investing for you. The pension contribution together with the investment returns form the basis for the level of your pension. This is instead of your salary, as is the case now. Everyone will be able to see the amount available for their pension: the pension pot.
A yearly estimate of your pension
Every year, we will calculate an estimate of the pension you can expect later on. The amount of this pension may vary if you have not opted for a fixed pension benefit. A variable pension will fluctuate more in line with the economy and the investment results. The amount of your pension is expected to be higher in the future than it is now.
Entry: what will happen with your current pension scheme?
The new pension scheme will apply to everyone. Your current pension rights and pension entitlements will transfer to the new pension scheme. We call this ‘entry’. This involves a series of calculations. During the entry process to your new pension scheme, we will take the mandatory rules into account. The Dutch Central Bank supervises our compliance with these rules. Please read the Pension Update (July 2022) and the frequently asked questions.
Pension Updates about the new pension system
Previous Pension Updates
Pension Updat January 2023 (pdf)
Pension Update June 2022 (pdf)
