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.
These steps have already been taken
The old pension rules were becoming restrictive. People now change jobs more often, go part-time for a while or become self-employed. And when the economy is doing well, pensions tend not to increase. To address these issues, employers, employees and the government agreed to implement new rules. They signed what is known as the pension agreement in 2019.
The pension agreement was elaborated into the draft Future of Pensions Act (Wet toekomst pensioenen). In December 2022, the House of Representatives approved the Act, followed by the Senate in May 2023.
The new pension rules officially came into force on 1 July 2023. Pension funds have several years to make the transition, with a deadline set by the Minister for 1 January 2028.
Employee and employer associations in our sector – referred to as the social partners – engaged in talks to decide on the structure of PME’s new pension scheme and the transition process. Every decision was carefully assessed for its impact on individuals who are currently accruing a pension, used to a accrue a pension or are receiving a pension. In March 2024, social partners established the main principles for the new pension scheme.
The social partners developed their agreements into a draft transition plan. The plan details how the new scheme will work, what choices were made, and why.
The consultation phase began, allowing stakeholders to share their views through associations. VGPME, an interest group for PME pension recipients, voiced its feedback on behalf of its members, also on behalf of VG-Océ and VG Siemens.
The draft plan was then presented to the members of the social partners. The members are people from the sector, just like you. They are employees from all kinds of different companies. Members also include retired persons. In November 2024, the members of the social partners gave their approval. The finalised transition plan was handed over to PME.
These steps will be taken next
PME carefully assesses whether the arrangements in the transition plan (pdf) are balanced, realistic and feasible. We will then prepare the administration and systems for the future.
Before the switch, you will receive a personalised overview from us. This will contain a comparison of your pension amounts under the old and new schemes. So, you will see the differences for you personally. These amounts will still be an estimate, but they will already give you a good idea.
We are targeting a switch on 1 January 2027, provided all preparations are complete for a smooth handover. This includes finalising pension regulations, agreements, administrative systems, investments and communication. In short, a complicated job. Once ready, the old scheme will end and the new scheme will start. Everyone’s pension will be converted to the new scheme.
You will again receive a personal communication from us. This will contain the definitive calculation of your pension amounts. If there are any differences compared to the estimate you received at the end of 2026, we will explain them.
Stay updated
We’ll keep you informed about the new pension rules through various channels, including this website, webinars and the newsletter. Once we have details specific to your situation, you will receive a personal update.
The easiest way to stay informed is by logging in and sharing your email address. Important updates will be sent directly to your inbox.
Are the agreements as fair as possible?
It is essential that the agreements are as fair as possible for everyone. No group may gain or lose much more from the transfer than another group. Everyone must be equal in this respect.
How do you determine which choice is as fair as possible for everyone and which is not? The social partners have had all kinds of calculations performed and weighed up interests to work this out. They looked at the implications for younger people and for older people. They considered the consequences for people who are building up pensions, people who are drawing pensions, people who have left the sector and people who may yet do so in the years to come. And they asked a lot of questions. Will the scheme actually work as expected? What are the risks? How can we cushion these together? And who might we need to arrange something extra for? This is how they weighed up all the implications of every possible option, until they found the best balance.
The calculations show that the arrangements are indeed as fair as possible. No group has a major advantage or disadvantage compared to any other group. The PME Board will monitor this very closely, as will PME’s Accountability Council and our regulator De Nederlandsche Bank.