Wet toekomst pensioenen: what changes and what is the 2028 deadline?

The Wet toekomst pensioenen (Future Pensions Act, Wtp) has applied since 1 July 2023 and turns every occupational pension scheme into a contribution-based scheme with a flat, age-independent contribution. Schemes must make the switch by 1 January 2028; until your scheme has actually transitioned, your current pension agreement continues to apply.

This guide explains what the Act changes, which deadlines apply, who must agree, and where the transition most often goes wrong for employers and employees.

What does the Wet toekomst pensioenen change?

The defined-benefit promise in the second pillar disappears. A scheme no longer promises an amount per year of service; it promises a contribution, and what that contribution buys depends on investment returns and interest rates at retirement.

The Act amends the Pensions Act (Pensioenwet) and the tax rules in the Wage Tax Act 1964 (Wet op de loonbelasting); it does not replace them. It reforms only the second pillar, the occupational pension agreed between employer and employee. The first pillar, the state pension (AOW) paid by the Sociale Verzekeringsbank (SVB), and the third pillar of private products stay as they are. The Act does not oblige an employer without a pension scheme to start one.

The government publishes a plain-language summary on Business.gov.nl.

What does the flat contribution mean?

Every participant in a new scheme pays the same percentage of pensionable salary, whatever their age (Article 17 Pensions Act). This ends age-related contribution ladders and the doorsneesystematiek, under which younger participants effectively subsidised older ones.

There is one exception. Under Article 220e of the Pensions Act, an employer whose scheme was already a contribution scheme with an age-related scale on 30 June 2023 may keep that scale for employees who were already participating. New employees join on the flat contribution, so the transitional right is closed to newcomers.

The switch is not cost-neutral for everyone. Employees in roughly the second half of their career lose the higher contributions they expected, without the earlier compounding. Under Article 150d of the Pensions Act, the employer must consider compensation for that group and record the decision and its reasons in the transition plan. Compensation can be a temporarily higher contribution, a one-off payment into the scheme or an adjustment elsewhere in the employment terms.

Which contract type should you choose?

There are two types for pension funds: the solidarity-based contribution scheme (solidaire premieregeling) and the flexible contribution scheme (flexibele premieregeling). Insured schemes have a third option, the premie-uitkeringsovereenkomst.

In the solidarity-based scheme, contributions are invested collectively and returns are allocated by age cohort; a solidarity reserve absorbs part of the shocks. In the flexible scheme, each participant has a personal pension capital invested on a lifecycle path and chooses at retirement between a fixed and a variable benefit.

The choice belongs to the parties that set the employment terms: the employer with the works council (ondernemingsraad) or trade unions, or the social partners in the sector. The pension provider carries out the choice; it does not make it.

What is invaren and can participants object?

Invaren means converting pension already accrued under the old scheme into the new one through a collective value transfer. For pension funds it is the default route under Article 150l of the Pensions Act; an employer that decides not to ask the fund to invaren must justify that decision in the transition plan.

The fund then assesses whether the conversion is balanced for every group and records how in its implementation plan, which it submits to De Nederlandsche Bank (DNB) under Article 150i. Associations of participants, former participants and pensioners have a hearing right (hoorrecht) on the transition plan under Article 150g.

An individual who believes the conversion harms them can use the provider’s internal complaints procedure (Article 48b) and then the independent disputes body to which every provider must be affiliated (Article 48c), the Geschilleninstantie Pensioenfondsen for funds. The civil courts remain available.

Insured schemes work differently. There is no collective conversion by default: accrued entitlements stay with the insurer unless the individual agrees to a value transfer.

What happens to survivor pension?

For death before retirement, the partner’s pension becomes risk-based cover of at most 50% of the last pensionable salary (Article 18b Wage Tax Act 1964). It no longer depends on years of service, which helps younger employees with short service.

Risk-based cover has no value once it ends. When employment ends, Article 55(4) of the Pensions Act continues the cover for a limited period, for example while the former employee receives unemployment benefit (WW), and many schemes offer voluntary continuation after that. People who change jobs, become self-employed or take a career break should read the provider’s letter about this carefully.

The orphan’s pension ends at the latest when the child reaches 25 (Article 18c(5) Wage Tax Act 1964), regardless of whether the child is studying. It is capped at 20% of pensionable salary for a half orphan and 40% for a full orphan.

Can you take a lump sum at retirement?

No, not yet. The Wet bedrag ineens, RVU en verlofsparen created the option of taking part of your pension as a lump sum, but that part has not entered into force, and the Pensions Act currently contains no such right.

The government has announced a revised scheme with a later start date, which will be set by royal decree (koninklijk besluit). Employers and providers should not promise employees a cash lump sum in communication or scheme documents. Whether a lump sum would be attractive depends on income tax and benefits in the year of payment, which is a question for a tax adviser.

How do retirement age and early retirement work?

The AOW age is 67 in 2026 and moves with life expectancy. Under Article 7a(3) of the General Old Age Pensions Act (AOW), each increase takes effect five years after it is set, so nobody within five years of retirement is caught out.

The occupational pension has its own retirement date, which need not match the AOW age. Most schemes allow you to bring the pension forward or defer it with an actuarial adjustment, or take it in part while you keep working part-time.

For physically demanding work, collective agreements often include an early retirement arrangement (regeling voor vervroegd uittreden, RVU) in which the employer bridges the period to the pension date. Its affordability depends on a temporary exemption in wage tax legislation with a threshold and an end date; check the current position with a tax adviser before agreeing to it in a collective agreement or settlement.

What must employers do before 1 January 2028?

Every scheme must comply with the new rules by 1 January 2028. The extension to that date was enacted in December 2025 (Staatsblad 2025, 422), which also allows the transition milestones to be set by order in council (algemene maatregel van bestuur), so the timetable can change again without a full legislative procedure.

Three documents carry the transition. The transition plan (transitieplan, Article 150d Pensions Act) is the employer’s responsibility and sets out the new scheme, the reasons, the effects per age group and the compensation. The implementation plan (implementatieplan, Article 150i) belongs to the provider and goes to DNB. Communication to participants is a separate statutory duty (Article 150j).

Two checks come first. First, establish whether your company falls under a mandatory industry-wide pension fund (verplichtgesteld bedrijfstakpensioenfonds); if so, the fund’s timetable governs and your choices are limited. Second, establish who must agree: a pension scheme is an employment term, and where it is not covered by a collective agreement, the works council has a right of consent under Article 27 of the Works Councils Act (Wet op de ondernemingsraden, WOR). A change made without that consent can be challenged after the transition date.

Where does the transition go wrong?

The most common mistake is starting in 2027. Funds, insurers and actuaries work in queues, and an employer who begins in the final year has little room left before 1 January 2028.

Other recurring problems: treating the switch as a payroll task rather than a change to employment terms; promising the middle cohort compensation without quantifying it; letting survivor cover lapse when someone changes jobs; promising a lump sum that does not exist; and leaving cross-border and seconded employees out of the analysis, even though a secondment can decide whether the Dutch scheme continues.

What should you check as an employer?

As employer you carry the transition plan and the consent procedure. Check:

• Whether you fall under a mandatory industry-wide pension fund, and what its transition timetable is.
• Whether your works council has a consent right under Article 27 WOR, or the scheme is set in a collective agreement.
• Whether your transition plan quantifies compensation for older employees, with reasons (Article 150d Pensions Act).
• Whether you have a reasoned decision on invaren, or on not invaren (Article 150l).
• Whether employment contracts, the staff handbook and settlement templates still refer to the old scheme.
• Whether seconded and cross-border employees remain covered.

What should you check as an employee?

As employee you mainly need to read what your employer and provider send you. Check:

• The date your scheme switches, and whether your accrued pension will be converted (invaren).
• Whether you belong to the group that loses out from the flat contribution, and what compensation is offered.
• Your partner’s pension cover if you change jobs, become self-employed or take unpaid leave.
• Whether you keep an age-related contribution under the Article 220e transitional rule.
• Your options at retirement, including fixed or variable benefit in a flexible scheme.

What can we do for you with the pension transition?

We advise employers, works councils and employees on the employment-law side of the transition; see also our employment lawyer page and our overview of pension law.

• We review your transition plan for the statutory content and the compensation section.
• We run the consent request to the works council under Article 27 WOR and handle objections.
• We amend employment contracts, handbooks and settlement agreements to the new scheme.
• We assess an employee’s position on compensation, survivor cover or invaren, and draft the complaint to the provider.
• We represent you before the disputes body or the subdistrict court (kantonrechter).

Summary

• The Wtp applies since 1 July 2023; every scheme must switch by 1 January 2028.
• Contributions become flat and age-independent, with a closed exception under Article 220e Pensions Act.
• Older employees may need compensation, recorded in the employer’s transition plan.
• Survivor pension before retirement becomes risk-based cover of up to 50% of pensionable salary.
• A pension lump sum at retirement does not yet exist.

Frequently asked questions