New Pension Act to take effect one year later

The introduction of the new Pension Act has been postponed – the new deadline is now 1 January 2023. This gives pension funds an extra year's time to prepare for the new pension system.

Demissionary Minister Koolmees of Social Affairs and Employment has reported that more time will be needed to modify and fine-tune the new legislation. By 1 January 2027, all pension funds must be ready to implement the new pension rules. Of course, they can start earlier if they are ready.

Current and new legislation
Interest rates are a very important factor under current pension law. For example, if interest rates decline, pension funds have less room to increase pensions to keep up with inflation. That is set to change in the new system. Pensions will follow trends in the economy, which means pensions may rise or fall every year.

Read more about the new pension system
Follow our reports on the new pension system on our website. You’ll also find a list of frequently asked questions and answers.