What the new Pension Act means for you and your employees

The new Pension Act makes it mandatory for employers, employees and pension funds to reach new agreements. Does your company not have a collective labour agreement (CAO)? Then you must take action.

The supplementary pension that employees accrue through your company will change because of the new Pension Act (in Dutch), which took effect on 1 July 2023. This pension supplements the General Old Age Pensions Act (in Dutch) (AOW); the basic financial benefit which pensioners receive from the government after their retirement.

Pension funds have until 1 January 2028 to make new agreements with employers, and employees, and implement them.

Changes for employers

Because of the new rules, you have to adjust . This is done collectively if you have a (CAO). If you do not, you have to make new pension agreements with your employees yourself. Pension funds will then adjust the old agreements.

As before, you pay monthly contributions to your pension fund. You deduct part of it from your employee’s salary: the employee part. The premium does not depend on the age of your employees any longer.

With CAO

Does your business have a CAO? Then you do not have to do anything for now. First, unions and pension funds will make new pension agreements. Afterwards, your employees will receive information about the decisions that were made. Which role you play in this depends on the new agreements.

Without CAO

If you do not have a CAO, you have to make your own arrangements with your employees and pension administrator. Among other things, you should consider how your administrator invests the premium and if you use a transitional scheme.

Transitional scheme

Together with your staff representatives or works council, you decide to implement the new pension agreements immediately or after a transitional period. If you opt for a transition period, the old pension agreements will continue to apply to your current employees. Employees joining the company are covered by the new pension agreements.

Premiums and investments

You also need to think about the pension scheme itself. For example, how much of the premium you deduct from the salary. You also decide how the pension fund will invest the premium: separately for each employee, or for all your employees together.

You also make agreements with the pension fund about how much risk it is allowed to take when investing. Among other things, you can take the age of your employees into account. 


Do you need help? Read the information on the Working on our pensions (in Dutch) website and talk to a pension adviser.

Changes for employees

With the new Pension Act, benefits fluctuate with the economy. If the economy is doing well, the pension goes up. When the economy is not doing well, the pension goes down. These measures should prevent pension benefits from falling too fast.

Every year, your employees receive a statement of the investment results. This states how the results are expected to influence their pension benefits. Pension funds are not allowed to make promises about the long-term meaning of those benefits any longer.

Each employee will have his or her own pension pot, making it easy to see how much pension they have accrued. This should put an end to employees having multiple pots, because they have accrued pension with different employers and pension funds.

Apart from pensions for your employees, it is also wise to think about your own pension.