As announced, the bill on the future of pensions (wet Toekomst Pensioenen) will be submitted to the Dutch Parliament in autumn 2021. The bill is the elaboration of the Pension Agreement (Pensioenakkoord) between social partners from June 2019. Extensive public consultation on the proposed content took place in early 2021. Various pension experts and interest groups have contributed to this far-reaching revision of the Dutch pension system. Important legal and practical obstacles for the transition to the new system have been identified and possible solutions have been proposed. The Dutch parliament has the final say on this. According to the current proposed timeline, Dutch parliament should adopt the bill before 31 December 2021. This will allow the Act on Future Pensions to enter into force on 1 January 2022. The target date of 1 January 2026, by which all Dutch pension schemes must comply with the new pension system, will then also be feasible. Whether this tight timeline will be met has become somewhat uncertain due to the formation of a new Dutch government and the delayed submission. But there is no reprieve from any postponement. The current pension system has become unaffordable and therefore unsustainable for various reasons. The Pension Agreement needs to be converted into law .
Please see full publication below for more information.