Who is making the rules for the new pension system?

Participants and employers are represented by the social partners. Social partners is another name for employer and employee organizations. For example, employers in the Netherlands are represented by VNO-NCW and MKB-Nederland. Employees are represented by trade unions such as FNV and CNV.

The government is involved in the Dutch pension system in several ways. First of all, as a legislator. The best-known law is the AOW; the government’s statutory pension. It is also called the first pillar of the pension system. When you reach the AOW entitlement age, you receive “your AOW” every month. In addition, many people accrue a pension through the company they work for. The government takes care of the laws and regulations needed to be able to save for retirement and for the tax advantages you have when you save. Many industries, but also companies, have their own pension fund. The government is responsible for this requirement.

Pension funds provide the second pillar of the Dutch pension system (supplementary pension accrual through the employer). The monthly premiums deposited by the employer and employee are managed and invested by the pension fund. By investing, the pension funds ensure that the deposited premiums grow as much as possible. In this way, the premiums you and your employer pay become more valuable and your pension grows.

APG is a pension administrator and handles the administration, asset management and communication with participants and employers for its pension fund clients.