Pensioenfonds Detailhandel, for those working in the retail sector, has published its transition plan in preparation for its transfer across to the new Dutch pension system.

As part of the Dutch pension reform, schemes have until 1 January 2028 to transition to a DC-like pension scheme. Pensioenfonds Detailhandel is targeting a transition date of 1 January 2026 and has opted for a solidarity premium scheme (SPR).

The transition plan has been agreed by the pension fund and its employer organisations (Raad Nederlandse Detailhandel, Vereniging Pensioenbelangen Brancheorganisaties BPFD) and employee organisations (FNV, CNV, De Unie).

An SPR scheme means that the amount an employee contributes is fixed, in this case 24.75 per cent, but there is no guarantee on the amount of pension an employee will receive at retirement.

The contribution will be invested by the pension fund for all members and the risk of the investment will be shared. As part of the SPR scheme, a small part of the investment income will be put aside in the ‘solidarity reserve’, which is used to protect pension benefits. For example, following a bad investment year, the money can be used to counteract a possible reduction in pension benefits.

“A solidarity reserve ensures stability and balance, but remains as small as possible to provide enough room for the growth of pension capital,” the scheme stated.

In addition, the social partners have agreed on a simple pension scheme design with the lowest possible implementation costs, so that as much of the contribution as possible goes towards the pension capital.

There will also be collective sharing of risks on death (survivor's pension) and disability ( pension accrual continues). Compulsory membership will also remain for employees of companies in the retail trade, home furnishing industry, textile wholesale, beverage industry, shoe repairers, tailors and/or orthopaedic shoemakers and shoe, leather and leatherware sectors.

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