Dutch pension funds are becoming increasingly better at dealing with complaints, according to research by the Dutch Federation of Pension Funds (PensioenFederatie).

PensioenFederatie chairman, Ger Jaarsma, said: “We have seen a big improvement in one year. The average score has increased significantly from 67 per cent ('adequate') in the 2022 baseline measurement to 84 per cent ('good') now. This average score is equal to our ambition that every fund should achieve as of January 1, 2024.

“So a lot has been achieved in a short time. That is a compliment for the efforts of our members. Yet there is room for improvement because not all members yet meet our ambition of 84 per cent.”

The performance of the pension funds was measured by the independent Gouden Oor Foundation, on behalf of the PensioenFederatie.

“Performance is measured based on our code of conduct, Properly dealing with complaints. This policy aims to improve the handling of complaints from participants and covers more than just the legal requirements in this regard,” Jaarsma explained.

“Many members now comply with the code of conduct. A lot of work has been done on improvements and you see appealing, participant-oriented examples at various funds. These efforts provide a solid basis for dealing with complaints properly. A basis that will soon help with the transition to new pension schemes, in which the number of complaints and customer signals is expected to increase.”

The PensioenFederatie believes that improvements can be made in how pension funds learn from the complaints. Schemes could then use a complaint as a way to improve a process or communication.

Jaarsma also highlighted that not all members fully meet the requirements for dealing with complaints included in the Future Pensions Act.

“As a fund, for example, you must use the legal, broad definition of the term 'complaint' and not use your own, limited definition. In any case, we want all our members to meet the 'Good' standard, so we all end up with that 84 per cent.”

The PensioenFederatie is ready to help members who are falling behind to comply with the legal requirements and the code of conduct as quickly as possible.

---