65,000 pensioners have received a new and increased payment under the renewed pension system for the first time at the end of February 2025. These are pensioners from the Beroepspensioenfonds Loodsen (Loodsen occupational pension fund) and from the PWRI and PPF APG pension funds. In addition, the 135,000 workers covered by these funds now have online access to their personal pension assets.
The three funds are the “early adopters” of more than 130 pension funds that will transfer approximately ten million pensioners to the renewed system in the coming years.
Annette Mosman, chair of the board of APG, the pension administrator of PWRI and PPF APG: “I am extremely happy and proud that our first fund clients have made it to the finish line of this pension marathon. We have gained important experience for the transition of the other funds we work for, including ABP and bpfBOUW.”
Ger Jaarsma, chairman of the Pensioenfederatie (Federation of Pension Funds): “The transition to the renewed system was an intensive process, and went off without a hitch. The fact that we succeeded in this way inspires confidence for the other pension funds that will be making the transition in the coming years.”
Rajesh Grobbe, director of the Loodsen occupational pension fund: “We are proud to have achieved our transition objectives and to have been able to increase benefits by around 8 percent. By staying the course, we were able to confidently look forward to the transition.”
Tinka den Arend, chair of the APG personnel pension fund: “The APG pension fund is increasing payments by 4 to 8 percent, depending on the personal situation. Young colleagues can now see exactly how much has been set aside for them in their personal pension pot. What’s more, we are well prepared for the longer term with a well-filled buffer, a high premium and an appropriate investment policy.”
Tom Bottinga, chairman of the board of the Blue Sky Group: “We are very proud that the Blue Sky Group is one of the first pension administrators to successfully implement the Future of Pensions Act. It was an intensive and educational time; we succeeded thanks to absolute dedication and close cooperation with the Loodsen occupational pension fund.”
Ellen den Boer, retired APG employee, “II find it very unfortunate that pensioners are being unnecessarily frightened without looking at the facts. My pension payment has increased by almost 7 percent per month thanks to the transition to the renewed system, and there are sufficient mechanisms in place to ensure that my pension cannot decrease. I am very happy about that.”
The increase in pensions was possible because pension funds in the renewed system can better align investment risks for young people versus older people. More cautious investments are made for older people in order to protect the accrued capital. For young people, who will not receive a pension until decades from now, more risky investments can be made, which is expected to lead to a higher return. Thanks to this more intricate way of investing, a pension fund can suffice with a lower buffer. Part of the buffers can therefore be distributed among the participants.
Published on:
25 February 2025