The House of Representatives in the Netherlands has rejected the recent amendment to the Dutch Future Pensions Act (Wtp), which would have allowed participants to choose if their current pensions could be shifted to the new pension schemes.

Due to the House of Representatives voting against it, this amendment will not proceed.

The Wtp came into effect on 1 July 2023, requiring pension funds to transition to the new pension system by 1 January 2028.

However, the reform has seen political dispute in recent months over several proposed amendments to the Wtp by the New Social Contract (NSC) and Farmer-Citizen Movement (BBB).

The Dutch Federation of Pension Funds (Pensioenfederatie) chairman, Ger Jaarsma, called the decision to vote against the latest amendment "extremely good news for the Netherlands".

“In the renewed pension system, pensions can be increased more quickly if the economy is good. At the same time, we retain important characteristics such as solidarity and collectivism. The amendment would put an end to that,” Jaarsma said.

Pensioenfederatie emphasised the importance of clear communication with everyone who accrues or receives a pension, particularly given that the transition to the new system is in “full swing”.

"Unfamiliarity and concerns can affect trust. Funds will intensify their efforts where necessary and will report on this to the minister twice a year from now on,” he added.

Additionally, the Dutch Pension Fund for Healthcare and Welfare (PFZW) said that letting everyone choose for themselves would be “bad” for the collective and solidarity-based pension.

It also said that pension administration would become more expensive, and we would be able to share fewer risks, stating it was good that this amendment is “off the table.”

PFZW confirmed it is working on the preparations for the switch to the new system from 1 January 2026, despite some funds delaying their plans amid recent uncertainty.

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