In context

Providers to make new key information document available for pension products from 2018

June 13, 2017
In context

Under new legislation, providers in the Netherlands will need to make a key information document (KID) available for third-pillar pension products instead of a financial information leaflet. The KID format and content is based on the European PRIIPs Regulation. Consultations for the required amendments to Dutch rules were launched in May 2017. The risk indicators and information about future revenues included in advertisements will also be amended. Pension product providers will need to make the necessary changes by 1 January 2018.

The Regulation on Key Information Documents for Packaged Retail and Insurance-Based Investment Products (PRIIPs) will introduce KID requirements for certain complex financial products. Third-pillar pension products are excluded from the scope of the regulation. Member States can nevertheless adopt national rules on providing key information about these excluded products. The Dutch legislature is making use of this option by introducing the obligation to provide a KID for pension products. As tax treatment is essential for these products, providers will also need to include information about the tax treatment in the KID, in addition to the other information to be provided in the KID under the PRIIPs Regulation.


The KID is suitable for third pillar pension products, as these products are similar to PRIIPs in terms of structure, effect and objective. In addition, given the freedom of choice that consumers have in the third pillar, it is important that they be able to compare pension products and PRIIPs.


The entry into force of the PRIIPs Regulation and the abolishment of the financial information leaflet affects how providers of complex products must warn about the risks involved with these products in advertisements, and how they include information about future revenues in advertisements and offers. The risk indicators to be included in the current financial information leaflet will be replaced by new risk indicators to be published on the website of the Dutch financial markets supervisor AFM.


For the consultation on the Dutch amending decree, which ended on 30 May 2017, click here, and for the consultation about the Dutch amending regulation, which ends on 3 July 2017, click here.

We keep track of you on our site with cookies, in order to offer the basic functionality of the website and generate user statistics on an anonymous basis to make our website more user-friendly. We do not use or share your data with third parties for advertising purposes.