A good pension for everyone
In the Netherlands, pensions are well organised. Even so, an overhaul is needed. That’s why employees, employers and the government have worked together to create new rules. This ensures that everyone, now and in the future, can rely on a good pension. Here’s how it works.
The new rules in brief
What do the new rules mean for you?
PME is targeting a switch on 1 January 2027, to a new scheme that will serve us well for years to come. That may sound daunting, but not everything changes. Here’s what you can expect.
What you can count on
You’re accruing a pension with PME through your employer. You choose when you want that pension to start. And you will receive it for as long as you live. Even if you’re well over a hundred. This remains exactly as it is now.
Your pension will have more potential to increase. One of the reasons for this is that we’ll no longer be obliged to have huge buffers. Windfalls are therefore more likely to end up in your wallet. If you receive your pension from us, several measures will be in place to protect it as much as possible. As a result, while the risk of falls will never be completely ruled out, it is likely to be limited.
Pension funds like PME are obliged to switch to a contribution scheme. This means that agreements are made about the money that goes towards your pension, rather than how much pension you will end up with. What you will get will depend on the contributions, the return on the investments and the level of the interest rate when you retire.
Do you do shift work? Under the new scheme, you will also accrue pension benefits on your shift work allowance. This is introduced in annual steps. After five years, the allowance will count towards your pension in full. If your employer has already ensured that you accrue pension benefits on the shift work allowance, then that will remain the case.
Do you accrue a pension with PME? Did you do so in the past? Or do you receive a pension from us? We’ll make sure that things are properly arranged for everyone.
Why are new rules needed?
Why are new rules needed?
How we’re switching to the new rules
All pensions will be transferred to the new rules, including yours. Of course, that must happen with the utmost care and fairness. Here’s a look at who’s involved and what you can expect at each stage.
Employee and employer associations in our sector (also known as the social partners) make arrangements about PME’s new pension scheme. These arrangements are documented in a so-called transition plan, which describes in detail how the new scheme will work.
PME carefully assesses whether the arrangements in the transition plan are realistic and feasible. We then prepare the administration and the systems for the future. Before the switch, you’ll receive an estimate of your pension under the new rules.
We’re targeting a switch on 1 January 2027. At that point, all pensions will be transferred to the new scheme. That includes the accrued pensions of people who are still working and the pensions of people who are already drawing their pension. You’ll be able to easily monitor the development of your pension.