MPs near agreement on pension reforms
10 years, 5 months ago

MPs near agreement on pension reforms

NL Times  

The Cabinet, governing groups and the opposition parties D66, ChristenUnie and SGP have reached an agreement on tightening the pension rules, Z24 reports. An important part of the bill is that pension funds are required to hold higher financial buffers from next year. Research will also be done into the low interest rates that pension funds must use to determine whether they can afford to pay the pensions. The fact that pension funds will have to hold higher buffers, is beneficial for both young people and workers.

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History of this topic

MPs back formal review of NSC's pension referendum plan
2 months ago

MPs back formal review of NSC's pension referendum plan

Dutch News  

A majority of MPs have voted to ask the government’s highest-ranking advisory body, the Council of State, to assess plans to hold referenda on the new pension legislation. Two parties from the ruling right-wing coalition – the NSC and BBB – want to give workforces and pensioners the right to vote on whether their fund should move to the new …

NSC plan for pension fund referendums puts strain on coalition
2 months ago

NSC plan for pension fund referendums puts strain on coalition

Dutch News  

Pieter Omtzigt’s NSC party is calling for members of pension funds to be given a vote on whether to be included in the new Dutch system. NSC MP Agnes Joseph is expected to submit plans that would require pension fund managers to hold a referendum first before transferring to the new system. The reforms created individually tailored pension “pots” rather …

Dutch pension funds, retirees need more say before system overhaul, says NSC
2 months ago

Dutch pension funds, retirees need more say before system overhaul, says NSC

NL Times  

Coalition party NSC wants all pension funds to consult their members on whether they want to switch to the new pension system. NSC parliamentarian Agnes Joseph is submitting a proposal to have the participants of each pension fund express their opinion in a referendum before their fund can make the switch, NOS reports. The NSC has long advocated for pension …

Large pension funds barely increasing pensions next year; No more than 3%
1 year, 5 months ago

Large pension funds barely increasing pensions next year; No more than 3%

NL Times  

Millions of Netherlands residents can kiss hopes for a big pension increase goodbye. Civil servants’ fund ABP, the largest fund in the Netherlands with 3 million members, can increase pensions by a maximum of 3 percent next year. Healthcare fund PFZW’s increase will probably be much less, and bpfBOUW, the pension fund for the construction sector, may not increase pensions …

Mini-budget chaos exposed ‘lax approach’ to pensions regulation, MPs say
1 year, 9 months ago

Mini-budget chaos exposed ‘lax approach’ to pensions regulation, MPs say

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The committee said: “We question whether TPR had understood the ‘doom loop’ risks inherent …

PvdA and GroenLinks clear the way to support pension reform
2 years, 3 months ago

PvdA and GroenLinks clear the way to support pension reform

Dutch News  

The Labour party and GroenLinks have withdrawn some of their objections to government plans to reform the pension system, clearing the way for the legislation to pass in the senate. The two parties did use the last major debate on the changes in the lower house on Thursday night to renew their call for some amendments – including a government …

PvdA and GroenLinks clear the way to support pension reform
2 years, 3 months ago

PvdA and GroenLinks clear the way to support pension reform

Dutch News  

The Labour party and GroenLinks have withdrawn some of their objections to government plans to reform the pension system, clearing the way for the legislation to pass in the senate. The two parties did use the last major debate on the changes in the lower house on Thursday night to renew their call for some amendments – including a government …

Large funds unable to increase pensions this year
3 years, 1 month ago

Large funds unable to increase pensions this year

NL Times  

The largest pension funds in the Netherlands would like to increase pensions but are not yet able to. "At a time when groceries are becoming increasingly expensive, and energy prices are rising rapidly, that is a hard observation," said Joanne Kellermann, chairman of the board of care fund PFZW. The policy funding ratio, the indicator on which funds decide whether …

Record increase in pension premiums this year
4 years, 2 months ago

Record increase in pension premiums this year

NL Times  

This year pension funds are increasing their premiums more than ever before, with increases of 10 percent being no exception. 39 of the 44 industry-wide pension funds are increasing their premiums and/or cutting their pension accrual, according to FD. The pension funds blame the increased premiums and lower accrual on low interest rates and lower expected returns. Last year outgoing …

Over 7 million NL residents could face pension cuts next year, large funds warn
4 years, 8 months ago

Over 7 million NL residents could face pension cuts next year, large funds warn

NL Times  

Over 7 million Netherlands residents have to take into account that their pension benefit may be lower next year. The three largest pension funds in the country have too little cash to meet the government's funding ratio requirement and have little hope of meeting that target by the end of the year, they said to NOS. In June, Minister Wouter …

Questions remain over pension changes as MPs back Koolmees plan
4 years, 8 months ago

Questions remain over pension changes as MPs back Koolmees plan

Dutch News  

Sweeping changes to the pension system have been backed by MPs, but questions remain about how the reforms will work in practice. Social affairs minister Wouter Koolmees secured the support of all four coalition parties as well as Labour, GroenLinks and the orthodox Protestant party SGP on Tuesday evening. Labour and GroenLinks backed the changes after securing a number of …

Questions remain over pension changes as MPs back Koolmees plan
4 years, 8 months ago

Questions remain over pension changes as MPs back Koolmees plan

Dutch News  

Sweeping changes to the pension system have been backed by MPs, but questions remain about how the reforms will work in practice. Social affairs minister Wouter Koolmees secured the support of all four coalition parties as well as Labour, GroenLinks and the orthodox Protestant party SGP on Tuesday evening. Labour and GroenLinks backed the changes after securing a number of …

The world’s best pension system is being pushed to the brink
5 years, 4 months ago

The world’s best pension system is being pushed to the brink

CNN  

London CNN Business — Record low interest rates are forcing the world’s best pension system to take drastic action aimed at staving off cuts to payoutsthat were once unthinkable. It’s an extraordinary situation.” Shaktie Rambaran Mishre, Pensioenfederatie chair For global pension funds, low interest rates couldn’t havecome at a worse time. “It’s an extraordinary situation,” said Shaktie Rambaran Mishre, chair …

Restarted pension talks are 'constructive', minister says
5 years, 9 months ago

Restarted pension talks are 'constructive', minister says

Dutch News  

Monday night’s talks on reforming the Dutch pension system were ‘good’ and ‘constructive’ but no deal has yet been reached, social affairs minister Wouter Koolmees told reporters after the negotiations broke up in the early hours of Tuesday morning. Talks between ministers, unions and employers broke down last November after the unions pulled out over the government’s refusal to slow …

Restarted pension talks are 'constructive', minister says
5 years, 9 months ago

Restarted pension talks are 'constructive', minister says

Dutch News  

Monday night’s talks on reforming the Dutch pension system were ‘good’ and ‘constructive’ but no deal has yet been reached, social affairs minister Wouter Koolmees told reporters after the negotiations broke up in the early hours of Tuesday morning. Talks between ministers, unions and employers broke down last November after the unions pulled out over the government’s refusal to slow …

Pension reform talks may restart, minister stresses need for progress
5 years, 9 months ago

Pension reform talks may restart, minister stresses need for progress

Dutch News  

Social affairs minister Wouter Koolmees has told MPs that he wants to resume talks with unions and employers on reforming the Dutch pension system. The talks collapsed in November after the unions walked out, saying the cabinet was not prepared to do enough to meet their demands on the state pension age. He also said the cabinet ‘sees room to …

Pension reform talks may restart, minister stresses need for progress
5 years, 9 months ago

Pension reform talks may restart, minister stresses need for progress

Dutch News  

Social affairs minister Wouter Koolmees has told MPs that he wants to resume talks with unions and employers on reforming the Dutch pension system. The talks collapsed in November after the unions walked out, saying the cabinet was not prepared to do enough to meet their demands on the state pension age. He also said the cabinet ‘sees room to …

Dutch pension funds warn of lower pensions in coming years
6 years, 2 months ago

Dutch pension funds warn of lower pensions in coming years

NL Times  

Bad news for Dutch pensioners. If the funds can't get their so-called policy funding ratio above 104 percent in time, they will have to lower their pensions. Health care fund PFZW and civil service fund ABP have until end 2020 to get their policy funding ratio above 104 percent. ABP, the largest pension fund in the Netherlands, seemed to be …

Government faces a busy year with two elections and headache issues
6 years, 2 months ago

Government faces a busy year with two elections and headache issues

Dutch News  

The ‘yellow vest’ protest movement may have failed to take off in the Netherlands so far, but the Dutch government does face a number of challenges in 2019 – not least of all two important elections. ‘There is no time to lose for this cabinet.’ NOS political correspondent Ron Frensen says that 2019 is the year in which the cabinet …

Unions says ministers must freeze retirement age, or face no new pension deal
6 years, 6 months ago

Unions says ministers must freeze retirement age, or face no new pension deal

Dutch News  

The cabinet must come up with more money for the state pensions by freezing the pension age, if it wants the unions to make a deal on reforming the entire system, the FNV trade union said on Friday. The FNV, the biggest pension federation in the Netherlands, said in a statement it will be ‘very diffcult to make an agreement …

Most Dutch back pension overhaul, switch to personal schemes: poll
8 years, 9 months ago

Most Dutch back pension overhaul, switch to personal schemes: poll

Dutch News  

Some two-thirds of the Dutch population support the idea of a new pension system in which individuals are given more choice to determine what their pensions should look like, according to a new poll by Maurice de Hond. The poll of 3,200 people was commissioned by the Liberal democratic party D66, which supports a shake-up of the current pension system, …

Pressure mounts for major overhaul of Dutch pension system
8 years, 10 months ago

Pressure mounts for major overhaul of Dutch pension system

Dutch News  

Pressure is mounting in the Netherlands for a major overhaul of the current three-tier pension system, with a string of influential organisations and people calling for wholesale reform. The Dutch pension system is based on three parts: the state pension AOW, payable in full to everyone who has lived in the country for more than 50 years and at reduced …

Pressure mounts for major overhaul of Dutch pension system
8 years, 10 months ago

Pressure mounts for major overhaul of Dutch pension system

Dutch News  

Pressure is mounting in the Netherlands for a major overhaul of the current three-tier pension system, with a string of influential organisations and people calling for wholesale reform. The Dutch pension system is based on three parts: the state pension AOW, payable in full to everyone who has lived in the country for more than 50 years and at reduced …

Change in the Netherlands is s-l-o-w
9 years, 2 months ago

Change in the Netherlands is s-l-o-w

Dutch News  

Shifts in official policy in the Netherlands take a long time but when a decision is finally made, it is not going to change, writes economist Mathijs Bouman. Compromise It’s an agonisingly slow process but it does have one advantage: the decision is set in stone. The PVV succumbed in 2010 when it supported the VVD-CDA cabinet and the SP …

FM's steps will make NPS attractive; ball in pension fund authority's court now
10 years ago

FM's steps will make NPS attractive; ball in pension fund authority's court now

Firstpost  

While life insurance may not be strictly necessary for those who are not going to leave behind dependants, pension is a must for the non-propertied class One must provide for the rainy day especially if s/he does not have a prime property that yields steady stream of income to take care of post-retirement needs including for geriatric Medicare that is …

Hands off our pensions, MP tells Brussels
10 years, 10 months ago

Hands off our pensions, MP tells Brussels

Dutch News  

The Dutch government should show a ‘yellow card’ to Brussels’ plans to interfere with member countries’ pension systems, a Christian Democrat MP says. Christian Democrat MP Pieter Omtzigt is against the plans and is presenting an ‘initiative bill’ to parliament to encourage MPs to block the takeover. Omtzigt says the Dutch pension system should remain a Dutch matter, particularly since …

Hands off our pensions, MP tells Brussels
10 years, 10 months ago

Hands off our pensions, MP tells Brussels

Dutch News  

The Dutch government should show a ‘yellow card’ to Brussels’ plans to interfere with member countries’ pension systems, a Christian Democrat MP says. Christian Democrat MP Pieter Omtzigt is against the plans and is presenting an ‘initiative bill’ to parliament to encourage MPs to block the takeover. Omtzigt says the Dutch pension system should remain a Dutch matter, particularly since …

More NL pols against EU pension tinkering
10 years, 10 months ago

More NL pols against EU pension tinkering

NL Times  

The Netherlands must be careful that the European Commission stays out of the pension funds of member states. The Netherlands should pull the 'yellow card' against the Commission's pension plan, says CDA- MP Pieter Omtzigt, RTL Nieuws reports. Omtzigt is worried that the European Commission will remove the Dutch pension system from the control of the Dutch parliament. Omtzigt thinks …

Stricter rules for pension funds next year
10 years, 11 months ago

Stricter rules for pension funds next year

NL Times  

The cabinet will soon decide on a new system that will enforce stricter rules on pension funds next year. State secretary for Social Affairs, Jetta Klijnsma earlier hinted at new pension regulations for next year. A spokesperson for the union FNV announced that new pension regulation was discussed with experts, but that there was no agreement. Pension manager Willem Jelle …

Ministers, three opposition parties agree on pension reform
11 years, 3 months ago

Ministers, three opposition parties agree on pension reform

Dutch News  

The coalition government and three opposition parties on Wednesday finalised their agreement on pension reform, ensuring the plans will have majority support in the senate. The reforms centre on cutting the amount workers can save tax free towards a pension from 2.25% to 1.85% of their annual salary. The cabinet had wanted to reduce the tax break to 1.75% of …

Ministers, three opposition parties agree on pension reform
11 years, 3 months ago

Ministers, three opposition parties agree on pension reform

Dutch News  

The coalition government and three opposition parties on Wednesday finalised their agreement on pension reform, ensuring the plans will have majority support in the senate. The reforms centre on cutting the amount workers can save tax free towards a pension from 2.25% to 1.85% of their annual salary. The cabinet had wanted to reduce the tax break to 1.75% of …

Cross-party talks on pension reform to continue next week
11 years, 3 months ago

Cross-party talks on pension reform to continue next week

Dutch News  

Talks between the ruling coalition and three opposition parties on reforming the Dutch pension system will continue next week and are making ‘step-by-step’ progress, according to prime minister Mark Rutte. The ruling right-wing VVD and Labour party, together with the D66 Liberals and minor Christian parties, are trying to reach agreement on reforming the Dutch corporate pension system in order …

Cross-party talks on pension reform to continue next week
11 years, 3 months ago

Cross-party talks on pension reform to continue next week

Dutch News  

Talks between the ruling coalition and three opposition parties on reforming the Dutch pension system will continue next week and are making ‘step-by-step’ progress, according to prime minister Mark Rutte. The ruling right-wing VVD and Labour party, together with the D66 Liberals and minor Christian parties, are trying to reach agreement on reforming the Dutch corporate pension system in order …

Pension Funds Improve Considerably
11 years, 5 months ago

Pension Funds Improve Considerably

NL Times  

On Thursday the Dutch pension funds made the numbers of the third quarter public. According to the law, the pension funds must have a degree of coverage higher than 105 percent. Is the degree of coverage lower than the said level than the pension funds can announce that they will pay less in the next year. Pension fund bpfBouw, of …

Almost Agreement Government And Pension Funds
11 years, 6 months ago

Almost Agreement Government And Pension Funds

NL Times  

The government has almost an agreement with the pension funds on investments in the Dutch economy. Most probably this agreement will lead to the formation of a national mortgage bank, where pension funds can take over mortgages of Dutch banks. The government wants to entice pension funds to invest more in energy projects or regional infrastructure. “But we're at a …

'New pension plans aim to force funds to take more risks'
11 years, 8 months ago

'New pension plans aim to force funds to take more risks'

Dutch News  

New rules for Dutch corporate pension funds will make the size of payouts less certain and force funds to take greater investment risks, RTL news reported on Thursday. The aim of the changes – which have been several years in the planning so far – is to ensure the Dutch supplementary pension system continues to work in the future. Inflation …

'New pension plans aim to force funds to take more risks'
11 years, 8 months ago

'New pension plans aim to force funds to take more risks'

Dutch News  

New rules for Dutch corporate pension funds will make the size of payouts less certain and force funds to take greater investment risks, RTL news reported on Thursday. The aim of the changes – which have been several years in the planning so far – is to ensure the Dutch supplementary pension system continues to work in the future. Inflation …

Pension funds prepared to invest in mortgages, give more air to banks
12 years ago

Pension funds prepared to invest in mortgages, give more air to banks

Dutch News  

Dutch pension funds are now prepared to help finance banks’ mortgage portfolios, giving them more room to make new loans, the Financieele Dagblad reports on Tuesday. The thesaurier-generaal – the finance ministry’s top civil servant – has been negotiating with pension funds, government officials and banks for almost three years in an effort to kick start the housing market and …

Pension funds prepared to invest in mortgages, give more air to banks
12 years ago

Pension funds prepared to invest in mortgages, give more air to banks

Dutch News  

Dutch pension funds are now prepared to help finance banks’ mortgage portfolios, giving them more room to make new loans, the Financieele Dagblad reports on Tuesday. The thesaurier-generaal – the finance ministry’s top civil servant – has been negotiating with pension funds, government officials and banks for almost three years in an effort to kick start the housing market and …

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