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Future of Pensions
Deloitte Global Employer Services
Pension provision is a core element of employee reward, can give rise to significant risk and cost for employers and is subject to ever increasing regulatory complexity. Deloitte’s pensions professionals deliver a full range of specialist services to employers, employees and pension funds. We provide comprehensive pensions tax and legal consultancy services to employers with both defined benefit and defined contribution schemes, from helping corporates developing an integrated pensions strategy, to scheme implementation and governance.
The new pension agreement
The Dutch pension landscape will look radically different in 2026 and beyond due to the Pension Agreement (‘Pensioenakkoord). The wide array of different pension plans will change into a “one size fits (almost) all” model, with a limited number of options for the employer and employee to choose from. The pension plans will all be defined contribution plan with a flat contribution rate.
The upcoming change to the Dutch pension system is or will become an important topic on the agenda of many employers in the coming years. The draft bill of the Future of Pensions Act describes in detail how employers should implement the new rules and requirements with regard to their company pension plan.
As a system of defined contribution schemes is characterized by limited solidarity and less need for employers to be involved both financially and in governance,
How Deloitte can help
Going towards the new system you will face several important decisions.
- What will change for average pay plans and defined contributions plans?
- What level of contribution is appropriate?
- Do you want to make use of the transitional arrangement?
- What will change for the dependents’ pensions?
- What action should you take?
To gain insight in this complex change Deloitte has developed an analytics tool that provides guidance for these important questions. With this insight you can have a informed discussion with your employee representatives and enables a smooth transition of your pension plan.
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With the increased retirement age policies that support your employees to reach their retirement date healthy and productive become part of your agenda.
To support these policies several arrangements have been introduced. Up to 2025 employees could agree with their employer to leave their job up to three years before the state pension retirement age and receive a benefit of up to 22,164 euros per year to bridge the years up to retirement.
As from January 1, 2021 employees are allowed to carry forward up to 100 instead of 50 weeks (500 days) of unused additional (i.e., beyond statutory minimum) leave days, as well as paid time off in lieu of overtime, on a tax-deferred basis. This saved leave can be used for sabbaticals or bridge a period prior to retirement.
How Deloitte can help
Our team has experience advising corporates, employees in the following areas:
- From the design, implementation and operation of sustainable workforce, such as generational pact plans, leave saving plans we blend tax analysis with the strategic reward and best practice advice.
- In cooperation with TNO Deloitte can provide insight in the costs and benefits of your sustainable workforce strategy. The KOBADI analytics tool provides insight what the impact of your sustainable workforce policy will be on the productivity of your employees.
- How can you let the relaxation of the RVU final levy work for your employees. The employer may pay the employee up to a maximum amount equal to the net AOW benefit for a maximum of 3 years to bridge the period up to the AOW date. This compensation is no longer taxed with a final levy of 52%, but with the regular levy according to the green tax table for special remuneration. This scheme is temporary and applies under the conditions stated until December 31, 2025.
International pension consulting
We provide tax, best practice, governance and strategic advice to employers operating retirement plans for Dutch and cross border based populations. We also advise individual employees in relation to cross-border retirement positions covering Dutch and non-Dutch taxes.
From the design, implementation and operation of retirement arrangements, through to specialist advice on cross-border participation in plans, we blend tax analysis with the wider governance and best practice advice.
Our support helps corporates, pension funds and individuals to be compliant with tax, withholding and regulatory frameworks in an ever-changing and increasingly complex international landscape.
How Deloitte can help
Our team has experience advising corporates, employees and pension funds in the following areas:
- International Pension Plans – tax, governance and best practice
- Dutch pension plan advisory – advising employers on the impact of tax rules on contributions, pension transfers and distributions from Dutch pension and/or death benefit plans
- Cross-border pension scheme support – helping employers to understand, comply with the tax / regulatory frameworks and to optimise the pension benefits for cross-border workers
- Global pension plan governance – tax, withholding and reporting obligations in multiple jurisdictions
- VIP pension plan advisory – helping employees to understand their Dutch and foreign pension benefits and tax position of their pension landscape