MPs back formal review of NSC's pension referendum plan
1 month, 3 weeks 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 system, without asking the council for its views. The reforms, first mooted 16 years ago and due to come into effect in 2028, create individually tailored pension “pots” rather than giving employees a share of a large collective fund, while pension funds’ returns will more closely reflect market performance. The Dutch pension system is currently based on three pillars – the state pension AOW, compulsory corporate pension schemes – either sector-wide or company-based – and individual or private pension schemes.

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History of this topic

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 …

Dutch civil service fund to boost pensions 1.84% next year
3 months, 2 weeks ago

Dutch civil service fund to boost pensions 1.84% next year

Dutch News  

Three of the five big Dutch pension funds are increasing payouts next year but by a much smaller percentage than inflation. ABP chairman Harmen van Wijnen said last week he was “half happy” with the increase but that this was all the fund could do given its financial position. Healthcare pension fund PFZW has said it is freezing pensions next …

Resurrecting the New Pension Scheme (NPS)
6 months ago

Resurrecting the New Pension Scheme (NPS)

Times of India  

There is nothing called a perfect public policy scheme – best epitomised into NPS’ failure to stand up to popular expectations. Government employees reluctantly joining the NPS as reluctant subscribers jokingly called it as ‘No Pension Scheme’. Yet, until the unified pension scheme came recently, there was no alternative for the large NPS subscribers, perceiving themselves as poor cousins to …

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?
6 months, 3 weeks ago

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?

The Hindu  

The story so far: Fulfilling a long-standing demand of government unions, the Centre on Saturday, unveiled a new ‘Unified Pension Scheme’ assuring government employees half their last drawn salary as a lifelong monthly benefit. The move is also a surprising rollback by the NDA government as it was the original NDA – the Atal Bihari Vajpayee government – which had …

New pension scheme to benefit central govt staff
6 months, 3 weeks ago

New pension scheme to benefit central govt staff

Hindustan Times  

The Union cabinet led by Prime Minister Narendra Modi on Saturday approved a new pension policy for nearly 2.3 million central government employees, unveiling a framework that will give assured 50% of basic pay as monthly payout, assuaging federal staff unions that had sought guaranteed retirement benefits. Modi had set up a panel led by cabinet secretary-designate TV Somanathan, the …

It is time for India’s 97% to speak up against the Old Pension Scheme
1 year, 4 months ago

It is time for India’s 97% to speak up against the Old Pension Scheme

Live Mint  

Few will dispute that the Indian economy’s recovery from the covid shock has been better than that of most other major economies, barring perhaps the US. If this admittedly K-shaped rebound is to continue apace and become more equitable, government spending must hold up; and, as a corollary, the health of government finances isn’t imperilled. In a country inured to …

‘We strongly support’: Kejriwal on demands to bring back old pension scheme
1 year, 5 months ago

‘We strongly support’: Kejriwal on demands to bring back old pension scheme

Hindustan Times  

Delhi chief minister Arvind Kejriwal on Sunday expressed his support for the demands of central and state government employees to reinstate the old pension scheme, who have also staged a protest for the same. The Congress party also joined the chorus in support of the protest against the New Pension Scheme and the call to restore the old pension scheme. …

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre
2 years, 2 months ago

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre

The Hindu  

Published : Dec 29, 2022 10:15 IST In moves that are gathering momentum, a number of State governments are announcing or implementing decisions to reverse their shift to the new pension scheme designed largely by the Centre. Under the OPS, those who were members of the scheme, which consisted mainly of regular employees of the Central and State governments, made …

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 …

Cong, AAP make old pension scheme restoration demand major poll plank - The Hindu
2 years, 4 months ago

Cong, AAP make old pension scheme restoration demand major poll plank - The Hindu

The Hindu  

The demand for restoration of the old pension scheme has emerged as a major poll plank in Gujarat with both the Congress and the Aam Aadmi Party promising to implement it if voted to power in the state where the Assembly elections are scheduled next month. The employees have staged massive agitations against the government in Gujarat while demanding restoration …

Pension systems should be fair and sustainable
2 years, 5 months ago

Pension systems should be fair and sustainable

Live Mint  

Elections in key states are round the corner and a pitch for switching back to India’s old system of state pensions is growing louder. Himachal Pradesh state Congress chief Pratibha Singh recently promised that the party will bring back a defined-benefits package within 10 days if voted to power, echoing a promise party leader Rahul Gandhi made in Gujarat, another …

EPFO’s pension scheme likely to get a reboot
3 years ago

EPFO’s pension scheme likely to get a reboot

Live Mint  

Retirement fund body Employees’ Provident Fund Organisation is toying with the idea of bringing out a new pension product for organised sector workers not covered under the Employees’ Pension Scheme, 1995. Public Provident Fund: PPF is a government-backed savings vehicle with quarterly fixed returns determined by the government. We showcase some of the key differences between NPS and PPF: National …

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 …

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 …

Pension reform talks collapse as unions pull out over retirement age
6 years, 4 months ago

Pension reform talks collapse as unions pull out over retirement age

Dutch News  

Talks between unions and employers on reforming the Dutch pension system collapsed on Tuesday night after the three big unions pulled out. We had €7bn to make sure the pension system was ready for the coming 50 years and a lot of progress had been made,’ prime minister Mark Rutte told reporters. ‘We want a solution to the untenable rise …

Pension reform talks collapse as unions pull out over retirement age
6 years, 4 months ago

Pension reform talks collapse as unions pull out over retirement age

Dutch News  

Talks between unions and employers on reforming the Dutch pension system collapsed on Tuesday night after the three big unions pulled out. We had €7bn to make sure the pension system was ready for the coming 50 years and a lot of progress had been made,’ prime minister Mark Rutte told reporters. ‘We want a solution to the untenable rise …

No result after marathon talks; pension negotiations to continue next week
6 years, 4 months ago

No result after marathon talks; pension negotiations to continue next week

Dutch News  

Marathon talks between unions and employers have failed to produce an agreement on changes to the current Dutch corporate pension system and will continue after the weekend. The change is necessary because the aging population is putting more pressure on the current pension system and pension funds are having to pay out to more people for longer. State pension age …

No result after marathon talks; pension negotiations to continue next week
6 years, 4 months ago

No result after marathon talks; pension negotiations to continue next week

Dutch News  

Marathon talks between unions and employers have failed to produce an agreement on changes to the current Dutch corporate pension system and will continue after the weekend. The change is necessary because the aging population is putting more pressure on the current pension system and pension funds are having to pay out to more people for longer. State pension age …

New type of ‘mega-fund’ pension scheme gets green light from government
6 years, 4 months ago

New type of ‘mega-fund’ pension scheme gets green light from government

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A new type of occupational …

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 …

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 …

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 …

A big push to pension plan under study
11 years, 2 months ago

A big push to pension plan under study

The Hindu  

The New Year could see the introduction of a new pensions system in India that will offer retirement savers the option of tapping the high-risk-high-return equity markets. Stock market regulator Securities and Exchange Board of India will in its next board meeting in January take up a proposal to allow mutual fund companies to offer pension plans. Highly placed official …

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 …

'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 …

Unions, employers to join pension reform talks after criticism
11 years, 8 months ago

Unions, employers to join pension reform talks after criticism

Dutch News  

Ministers have invited union and industry leaders to talk again about plans to reduce the amount of money people can save tax free for a corporate pension. Although the two coalition parties assured majority support for the changes during Monday’s parliamentary debate, ministers have admitted there is a lot of criticism of the proposals. The government wants to reduce the …

Unions, employers to join pension reform talks after criticism
11 years, 8 months ago

Unions, employers to join pension reform talks after criticism

Dutch News  

Ministers have invited union and industry leaders to talk again about plans to reduce the amount of money people can save tax free for a corporate pension. Although the two coalition parties assured majority support for the changes during Monday’s parliamentary debate, ministers have admitted there is a lot of criticism of the proposals. The government wants to reduce the …

Whose pension scheme is it anyway? A pick-me-up for NPS
13 years, 8 months ago

Whose pension scheme is it anyway? A pick-me-up for NPS

Firstpost  

The New Pension Scheme, which was opened up to the general public just before the 2009 general election, has been a failure so far. After seven years of being open to government employees and two years to the general public, the funds under management are an underwhelming Rs 8,585 crore. The scheme’s fragmented structure - with seven asset management companies …

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