The social partners associated with the Dutch pension fund, PFZW, in the healthcare and welfare sectors, have reached several agreements on the new PFZW pension scheme.

The new pension scheme is expected to come into effect on 1 January 2026 in line with the requirements of the Future Pensions Act (Wtp), which came into effect on 1 July 2023.

The agreements reached by the social partners were presented to supporters of the various organisations in December 2023.

The agreements are set out in the transition plan, which has been established by the social partners. The transition plan was handed over to the PFZW board on 15 January 2024, which will now decide if the agreements are feasible.

The social partners have agreed that pensions in payment will remain at least as high as the current benefits.

They have also agreed that there will be a buffer that will be used in economic downturns to prevent pension benefits from having to be reduced. This should mean that the chance of pension reductions is almost 0 per cent in the first few years of the new scheme and minimal in subsequent years.

It has also been agreed that the expected pension income of almost everyone, as far as possible, will remain at least as high after conversion as before conversion. In addition, if PFZW is in good enough financial shape at the time of conversion, everyone's pension assets and pensions will be increased.

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