A group of Dutch pension funds has submitted a ‘critical response’ to the amendment of the Future Pensions Act (Wtp) submitted earlier in February by the political parties New Social Contract (NSC) and Farmer-Citizen Movement (BBB).
PFZW, together with ABP, Bouw, PME, and PMT, said the proposal to amend the law “removes the foundation of our pension system” and will lead to an additional €18bn in costs (based on a calculation by PwC) if the two systems continue side by side