New pension rules

The government is introducing new rules for your pension

Our society has changed a great deal in recent years. People live for longer and are less likely to work for one employer their whole lives. The pension system must adapt itself to this. That is why the government, together with employers and trade unions, has concluded a pension agreement with new rules for pensions and AOW (state retirement pension).

The Pensions Act will need to be amended to implement the new rules. A bill has been submitted for this purpose.

More transparent and personal

Pensions are becoming more transparent and personal:

  • your contribution is being made clearer
  • as will the amount of capital you accrue with it
  • and what you can expect in terms of pension when you retire.

Also, the pension will be moving more directly in line with developments on the financial markets. That means that good results will be reflected in your pension, but so will setbacks.

What is staying the same, and what is changing?
Watch the government video or read more on theĀ government website.

A new pension scheme by 1 January 2027

If the bill passes, the new rules are expected to take effect from 1 January 2023. Then it will be a matter for Mars and its affiliated companies. Together, in close contact with the pension fund, they will determine the detailed form of your pension. After that, we will be able to calculate how the changes affect your personal pension and incorporate them into the administration. This must be done by 1 January 2027.

We will keep you informed

Many details still have to be worked out and choices will have to be made. This will take another couple of years. We will of course keep you informed during the transition to the new scheme.

Research shows that around 40% of the participants like to be kept informed during the process towards the new pension scheme.

Timeline

  • The pension agreement has been concluded and detailed in a draft bill.

  • The bill will go to the House of Representatives and then to the Senate. If they approve the proposal, the new pension rules will become law.

  • The new legislation comes into force. IFF and its partners agree on the transition to the new pension scheme. We help them with this. We have already started the preparations.

  • IFF and its partners decide on your new pension scheme.

  • The new pension scheme is ready and takes effect.

Frequently asked questions

  • The pension agreement is the agreement that the government, together with employers and trade unions, made in 2019 about the future of our pension system. Since then, the Ministry of Social Affairs and Employment has been working on the new pension rules.

  • Our society has changed a great deal in recent years. People live for longer and are less likely to work for one employer their whole lives. The pension system must adapt itself to this. That is why the government, together with employers and trade unions, has concluded a pension agreement with new rules for pensions and AOW (state retirement pension). The Pensions Act will need to be amended to implement the new rules. A bill has been submitted for this purpose.

  • The aim is for the new pension rules to take effect on 1 July 2023, but it will take much longer for the pension scheme to be adjusted accordingly. IFF, its partners and the pension fund have a few more years to make the new agreements specific to their own pension scheme and to prepare for their implementation. The introduction must be arranged by 1 January 2027.

  • For the time being, nothing changes. Your pension accrual and pension benefits will continue under the current pension scheme. As soon as the new legislation is in place, IFF and its partners will make new arrangements. Once they have been made, there will be a new pension scheme.