The Dutch House of Representatives recently approved a new Pensions Act to replace the previous Pensions law, which dates back to 1952. The new Act combines half a century of amendments and brings the legislation into line with EU directives.
Set to come into force next year, the Act requires pension schemes to value assets and liabilities at market rates. The Act introduces the mandatory ‘Levensloop’, a life-long savings scheme intended to finance periods of unpaid leave during the employment career, and also introduces the new FTK or Financial Assessment framework.
Various amendments covering transparency of the indexation element of pension schemes have also been accepted.
The Act must be passed by the Dutch Senate before it can be implemented.
Various amendments covering transparency of the indexation element of pension schemes have also been accepted.
The Act must be passed by the Dutch Senate before it can be implemented.