Dutch Senate adopted the Future of Pensions Act

Dutch Senate adopted the Future of Pensions Act

1 June 2023

At the final hour, the Dutch Senate adopted the Future of Pensions Act (Wet toekomst pensioenen) on Tuesday 30 May 2023. As a result, the Act will come into force on 1 July 2023. Its key highlights are briefly summarized below.

Change of current pension schemes 

Employers and pension providers have until 1 January 2028 to change their current pension schemes to one of the following types: solidarity defined contribution scheme, flexible defined contribution scheme or defined contribution/guaranteed benefit scheme.

Investment default

They must also set an investment default, depending on whether pension benefits will be fixed or variable. 

Flat contribution rates

Contribution rates must be flat, subject to a maximum rate of 30% of the pension basis (pensionable salary less the state pension offset). 


Compensation for termination of the average contribution system may be provided as an additional pension entitlement until 2037 (up to 3%). New employees are also entitled to this. Compensation paid together with the salary or for any other reason may also be provided after 2037 but only to current employees.

Transitional law

Transitional law will apply until 2028 for today's defined contribution schemes with progressive contribution rates that increase with members' age. During this transitional period, these progressive rates need not be replaced by a flat rate. After that, pension schemes may still keep these progressive rates but may not accept any new members. Pension schemes must comply with the new legislation in all other respects. For example, dependants' pension must be insured until the employee retires or leaves their employer's service and may not exceed 50% of the employee's salary (at present, it is usually 70% of the old-age pension). In any case, a completely new pension scheme will need to be introduced for new employees joining from 2028 onwards.

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Key Contact

Advocaat | Counsel

Key Contact

Advocaat | Partner