22 September 2022

Full steam ahead: despite objections, bill on future of pension system likely to take effect in 2023

Earlier in 2022, following years of preparation, a bill on the future of the Dutch pension system was submitted to parliament. If passed, the new law will introduce several sweeping changes, notably that all future pensions will have to become defined contribution schemes.

The government has an ambitious timeline in mind: it wants the new law to take effect as of 1 January 2023. The lower house of parliament recently started discussing the bill, but the wording of various provisions and further regulations will need clarification. Political consensus is not a done deal either.

Even if parts of the bill are amended, the expectation is that the WTP will take effect at the start of the new year, with the transition period ending by the end of 2026. This means that now is the time to scale up preparations for the WTP.

Read our full article (in Dutch) here.