Pensions
Houthoff has a highly experienced and renowned Pensions Team. Our Pensions Team advises pension funds, employers, insurers, premium pension institutions, banks and asset managers on all legal facets of the pensions sector.
Future of Pensions Act (wet toekomst pensioenen)
The combination of increasing life expectancy, the financial crisis and ongoing low interest rates have shown that the current pension system required a revision. At the same time, the labour market is changing; people are changing jobs more often and the group of self-employed workers has grown significantly. The current system no longer matched the way in which we live and work in the 21st century. A significant amendment of the law as of 1 July 2023, namely the ''Future of Pensions Act'' entered into force – the largest system change of the past decades.Should you have any questions about the Future of Pensions Act or wish to discuss a specific situation, please do not hesitate to contact us or read the news item for more information.
Our expertise on the pensions sector
Complex mergers, liquidations, group transfer payments, buyouts and portfolio transfers within the pensions sector require an in-depth understanding of the sector and thorough knowledge of the legal aspects of restructurings, pension law, collective employment law and financial law. Houthoff assists clients with these complex transactions, also from a pension perspective. This often includes advising – and litigating, if necessary – on the scope of mandatory participation in sectoral pension funds. Houthoff is also involved in the pension aspects of employee participation law, including the works council's role in transactions like mergers or acquisitions and in group transfer payments or changes in pension schemes.Our Pensions Team also handles various pension disputes. Our lawyers never lose sight of our clients’ strategic interests. If a settlement is possible, we negotiate the conditions until a settlement is reached. If litigation is necessary, our pension law specialists assist our clients in the legal proceedings, including before the courts and in arbitration proceedings. Where necessary, the Pensions Team works closely together with the experienced Dispute Resolution Team of more than 80 lawyers and with teams from adjacent areas of law. We are able to achieve the best results for our clients thanks to our in-depth knowledge and extensive experience.
As pensions legislation and regulations are constantly changing, it is essential for pension funds to remain compliant. Our pensions specialists can also advise on issues related to governance, supervision and duty of care.
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Advised ASR Nederland N.V. (a.s.r.) on the acquisition of a 50% interest from Brand New Day in Brand New Day Premiepensioeninstelling N.V. (BND PPI) and the sale of a.s.r.'s 10% interest in Brand New Day Houdstermaatschappij N.V. for a total amount of EUR 51 million.
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Houthoff advised Stichting Bedrijfspensioenfonds voor het Bakkersbedrijf (Bpf Bakkers), a Dutch pension fund managing assets of approximately EUR 3.5 billion, on the appointment of NN Investment Partners as their new integrated fiduciary asset manager. This transaction involved the preparation and negotiations of a fiduciary management agreement under Dutch law based on Bpf Bakker's own template.
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Houthoff advised Stichting Pensioenfonds Campina, a Dutch pension fund, on the renewal of its contractual relationship with Deutsche Investment Management Americas Inc., RREEF America L.L.C. (both subsidiaries of Deutsche Bank AG) and Goldman Sachs Asset Management International. This work included the preparation and negotiation of a complex Dutch law asset management agreement based on the pension fund's own template.
