On Nov. 21, 2022, NLD DNB published feedback on Jun. 2022 survey findings.
Issued take awaysdocument on envisaged phases of transition to new pension scheme
Noted that postponed entry into force of the future pensions act to Jul. 1, 2023 was only announced after the deadline for submitting responses to the survey.
May therefore affect timelines provided by funds; majority of the sector has transition plan in place and will start evaluating the risk position next year.
FollowsNLD DNB overview of the new pension system to be introduced, see #153498.
Deadline for submitting implementation plan is Jul. 1, 2025 (when using transition, otherwise it is Jul. 1, 2026); third survey on transition expected at start of 2023.
On May 12, NLD DNB issued second survey on new pension scheme.
NLD DNB announced second inquiry on managing transition to new pension scheme.
Follows Sep. 2021, NLD DNB first survey on pension system transition, see #118943.
Supervisory Insights
Survey aims to gain insight into progress of pension funds' preparation for the transition to the new pension system, especially into risks that are currently relevant.
To allow NLD DNB to primarily deploy supervisory capacity where greatest risks exist.
This focus on greatest risk contributes to efficient and effective supervision.
Also provide insight into which fund expects to switch and when to estimate when the most requests for applications from fund are expected for internal DNB preparations.
Possibility that DNB and/or AFM will discuss progress and risks of the transition at particular funds, on the basis of information provided in completed questionnaires.
Survey Submission
Survey available via digital reporting desk (DLR) from May 18, 2022.
Excel file with answers can be uploaded via DLR up to and including Jun. 20, 2022.
Jul. 20, 2022 Survey Findings
On Jul. 20, 2022, NLD DNB found organizations have started transition preparations, but there is a shortage of resources, and a need for further transition planning.
Highlighted: system transition; complexity; risks and dependencies; data quality.
Nov. 2022 Survey Feedback
On Nov. 21, 2022, NLD DNB published feedback on Jun. 2022 survey findings.
Issued take awaysdocument on envisaged phases of transition to new pension scheme
Noted that postponed entry into force of the future pensions act to Jul. 1, 2023 was only announced after the deadline for submitting responses to the survey.
May therefore affect timelines provided by funds; majority of the sector has transition plan in place and will start evaluating the risk position next year.
FollowsNLD DNB overview of the new pension system to be introduced, see #153498.
Deadline for submitting implementation plan is Jul. 1, 2025 (when using transition, otherwise it is Jul. 1, 2026); third survey on transition expected at start of 2023.
