This is apparent from calculations by the pension think tank netspar. One caveat: the new pension system is expected to start in 2027, so we’ll have to be patient for a while.
Current pension system
In the Netherlands, the pension is well arranged. You receive AOW and you build up a pension through your work. But due to the changes in the economy, on the labor market and in our society, according to the Rutte IV cabinet, it is time for changes. The current pension system was no longer able to keep its promises in recent years.
In the current system, pension funds must first build up large buffers before benefits are allowed to be increased. That will change with the new pension system. Then the pensions are no longer guaranteed. Pension funds therefore no longer need to have buffer capital to be able to pay these benefits now and in the future.
A new, flexible pension
The new system works as follows: employers and employees jointly set aside money for a pension. A small part of this is reserve for when things go wrong. The largest part is the joint pension money. This money is invested. Is the economy doing well? Then as an employee you see that your expected pension is growing. Retirees also benefit from this.
Negative return
One disadvantage is that if things go wrong, your pension will be reduced. When you are young there is enough time to absorb windfalls and setbacks. But what about when you’re getting close to retirement? In that case, the new rules ensure that the flexibility of your pension becomes smaller and that you are still certain of your money.
Small chance that it will fail
But the chance that it will be bad economically is small. The investments of pension funds more often yield a positive than a negative return. The chance that your pension will increase in the coming years is therefore significantly greater.
“Funds have a lot of room to fill in the new contract,” explains Theo Nijman, professor at Tilburg University and one of the authors of the Netspar report. AD. “With the calculated variant, there is a 50% chance that the pension will increase by more than 1% in any year. The probability of it falling by more than 1% is 20%.”
Just a little patience
The new pension rules are expected to enter into force on 1 January 2023 at the latest. On 1 January 2027, all employers, employees and pension providers must have adapted all pension schemes in which pension accrual takes place to the new system.
Do you want to have more control over your pension? Financial advisor Ranti Suijker explains how you can set aside money for your pension:
Source: netspar, central government, AD
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