‘As I am writing this, Minister Schouten for Poverty Policy, Participation and Pensions has just announced that the start date of the new legislation has been moved to 1 July 2023. We are monitoring this gripping topic closely. We are also in talks with social partners, comprising employers and works councils. We are not rushing, but working at a good pace. As soon as we know more about the new legislation, we will discuss it and take relevant steps.’
‘The ball is in our social partners’ court’
‘The social partners will be the ones to decide what the employer’s pension scheme will look like. That makes perfect sense within the new pension framework. It’s then up to DOW to discuss who will administer this new pension scheme. Whether this will be the DOW Pension Fund Foundation is not clear. It could be that United Pensions (the current DC pension administrator) or a new pension administrator will be asked to step in. Only time will tell.’
‘Proper preparation is half the battle’
‘We don’t know everything about the new system yet, but we are preparing to make new options possible. For example, the new lump-sum option. We know this will happen at some point, but we don’t know when most pensioners will be able to opt for this. By the time this comes, we’ll be ready. More information about this option can be found on our website. Scan the QR code .’
maar we bereiden ons voor om eventuele nieuwe opties mogelijk te maken. Denk
‘Our data is under control, and we know how to keep it that way’
Having our data under control is one of the most important things for a new pension scheme. Research has shown we have a good level of data quality and how we can keep this high level. I’m talking about the number of active members, pensioners, former members, and their pensions. They provide the basis for coming up with the right analysis.’
Ed d’Hooghe, Chair of the DOW Pension Fund Foundation