The latest amendments to the Dutch Future Pensions Act (Wtp) have been branded as a "disastrous" move for workers and retirees by the Dutch Pension Federation, amid concerns that it could lead to a worse pension and cause considerable delays.

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

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

NSC and BBB first proposed introducing a mandatory referendum for schemes, which would mean schemes could only transfer to the new system if there is enough support from members, with later amendments suggesting that individual right to object should be made standard.

The first version of the amendment to the Wtp was changed immediately after submission, after receiving criticism from across the industry, with subsequent amendments made in response to further industry criticism.

However, the Pension Federation argued that the latest amendment, which is now the fourth attempt from the parties, remains "disastrous", warning that it could trigger considerable delays, legal problems and considerably higher costs.

Pension Federation chairman, Ger Jaarsma, said: “The fourth version of the NSC amendment is also disastrous for Dutch workers and pensioners.

“NSC has been engaged in this crusade for months and, following the devastating commentary, has mainly implemented textual adjustments, without changing the devastating content of the amendment.

"As a result, the amendment remains just as destructive as the previous proposals.

"All fundamental objections previously expressed by the minister, Council of State, unions, employers, supervisors and Pension Federation remain in place.”

Given this, Jaarsma urged the House of Representatives to vote against this amendment.

"At the same time, the pension sector is working with full focus on the implementation of the Future Pensions Act adopted in 2023," he continued.

"A good and careful transition of millions of workers and pensioners to the renewed pension system is central to this.”

Indeed, work towards the new pension system has continued, with PFZW the latest to confirm its intent to move to the new system from 1 January 2026, despite some funds delaying their plans amid recent uncertainty.

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