To ensure that pension schemes can continue to be financed, the social partners concluded the pension agreement a few years ago, in which they agreed to raise the retirement age and state pension age and to let them increase with increasing life expectancy. At the end of 2016, the government announced that the standard retirement age will rise from 67 to 68 years on 1 January 2018. The phased increase of the state pension age was also adjusted. This will rise to 67 years and three months in 2022.
What does this mean for you?
By adjusting the retirement age to 68 years, you will prevent your employees from missing out on one year’s pension accrual. Therefore, you will receive a proposal from us to change the retirement age to 68 years. This proposal is aimed at mitigating the consequences of the statutory changes for the pension accrual, thus ensuring that your pension scheme remains in line with what was originally agreed. Click here for more information on how the scheme can be adjusted.
We have commenced preparations to make sure your pension scheme complies with the amended laws and regulations as of 1 January 2018. The proposal will follow immediately after the summer. We will first send it to your pension adviser. You can then review it together with your adviser. After processing the changes, we will inform your members (in consultation) of the changed scheme. The whole process will be completed by the end of March 2018 at the latest.
Do you have any questions?
Please do not hesitate to contact your adviser at BeFrank with any further questions you may have.