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Getting started with the new pension

6/30/2020
Pensioenfonds PGB is pleased that the elaboration of the pension of the future has come another step closer. “With the details sent to the House of Representatives this week by Minister Wouter Koolmees (Social Affairs), we can now move forward,” says Jochem Dijckmeester, chairman of the board of Pensioenfonds PGB. “Even though, of course, we still need to wait for the green light from the employees rank. After that, the agreements will have to be elaborated further.” 


Own pension capital
Jochem Dijckmeester: “We very much want to get started with the new pension. The advantage of the new pension is that it makes it clearer how pensions work. Under the new system, you will have your own share in a joint capital. That feels more like your own. And you will be able to monitor closely how it develops. The capital moves along with the economy, through the investments. Returns on the deposited premium contributions find their way to people more easily. On the other hand, the effects of losses are also immediately felt. A strong aspect of the new pension is that it takes the participant’s age into account. The new system allows us to make tailor-made investments. With a little more risk for young people, because they will continue to invest for their pension for a long time to come. And a little more security for the elderly.”

Informing the stakeholders
As soon as it is clear that the new system will receive sufficient support, Pensioenfonds PGB will inform all parties concerned about the details. And enter into talks with representatives of employers and employees (social partners) and other stakeholders in order to prepare for the new pension. This concerns both the question of how we can transfer the existing pensions to the new, clearer pension system and the future schemes.

Choices
Jochem Dijckmeester: “We think it is important for our affiliated industries and companies that there will still be a choice between a more collective pension and a pension that allows more individual choices. What is now on the table deviates on a number of points from the earlier plans we discussed with the social partners at the beginning of March. We will have to assess carefully how this package works out and what options there are for the social partners to arrange the pension through us in the future”.

Commencement of new pension
It will be a few years before the new pension takes effect. Following the agreement of the trade unions, the Lower and Upper Houses of the Dutch Parliament will still have to consider the new rules. Pension funds will only be able to introduce the new pension once the statutory rules have been amended. Of course, Pensioenfonds PGB will also work together with representatives of employers and employees in industries and companies and other stakeholders, such as pensioners.



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