On Mar. 28, NLD SAE stated funds given more time to submit plans.
Pension providers will be given more time to submit plans for the transition to the new pension system to NLD DNB and NLD AFM and allowed to use relaxed indexation rules.
Follows NLD SAE Jul. 2024 consulted on pension transition date decree, see #220634.
Announcement Overview
This is stated in an administrative measure to enter into force on Jul. 1, 2025 at latest.
It has been arranged that funds that subsequently switch to the new system must submit their implementation plan and communication plan at least 1 year in advance.
At the moment, the deadline for the submission of the transition plans is Jul. 1, 2025.
This measure is based on advice of Government Commissioner for Pensions and aims to give sector time for transition, and measure has long been part of the underlying regulations to come in effect if both parts of NLD PRL agree to Transition Periods Bill.
This Bill gives pension funds an extra year to make the transition to the new system, but at present, the law still states the transition must be completed by Jan. 1, 2027.
However, because the Lower House needs more time to deal with this bill, pension funds would be unnecessarily put under time pressure to finalize their transition plan.
This could have disadvantageous consequences for pension funds and participants, so to prevent this, it will be taken separately from handling of the Transition Periods Bill.
Regulators
NLD AFM; NLD DNB; NLD SAE
Entity Types
CNSM; Corp; Pension
Reference
Bill, PR 3/28/2025
Functions
Actuarial and Valuation; Compliance; Financial; Legal; Product Administration; Reporting; Risk
