The Ministry of Social Affairs and Employment warns that companies that wait may be too late – resulting in fiscal risks, additional administrative burdens, and dissatisfied employees.
What changes under the new pension law?
In 2023, the Pension Future Act was adopted as part of a comprehensive reform of the Dutch pension system. This law modernizes the system, among other things, by:
- Transitioning from the old pension system to a solidarity-based, premium-linked pension scheme, where employees receive their own pension pot and the premium is independent of age.
- More transparency about pension growth and costs, with one personal pension account per participant.
- A transition period until at least January 1, 2028, after which all schemes must comply with the new law.
These changes are necessary because the old system no longer aligns well with a labor market where people change jobs more frequently and work longer.
The deadline: what needs to happen when?
Although the formal end date for the transition is January 1, 2028, planning is already in full swing. According to various pension advisors and regulators, a transition plan for pension schemes with insurers and PPI's must be ready at least before October 1, 2026 – and implementation must follow to meet Wtp requirements on time.
The ministry emphasizes that the conversion processes can take 6 to 18 months, depending on the complexity of the scheme, the size of the organization, and the involvement of employee representation.
Why starting now pays off
According to the recent Wtp Transition Monitor from EY, by October 2025, 74% of employers with insured pension schemes had not yet made a decision about the conversion. This is especially a risk for small employers, as the capacity of pension advisors and executors may come under pressure.
Starting too late can lead to fiscal consequences. Pension premiums are then considered wages, leading to wage tax and lower net wages for employees. Administrative problems can also arise: if a scheme is not converted in time, it can lead to fines or additional corrections in the following years.
And then there are the employees, who may also become dissatisfied with delays. Uncertainty about pension accrual can grow if not communicated in a timely manner.
Practical steps for employers
The ministry has published the brochure "Working on our pension", with a concrete action plan to help employers. Important components include:
- Engaging a pension advisor – for choices, planning, and risk analysis.
- Communication with employees – clearly explaining what changes and why.
- Collaboration with pension executors – documenting agreements in a transition plan.
- Monitoring timing – start before July 1, 2026, to ensure sufficient time.
An urgent call from employers' organization MKB-Nederland
Employers' organizations also emphasize the urgency. Jacco Vonhof, chairman of MKB-Nederland, warns that delays can have serious consequences: 'Employees can hold you legally liable if their pension goes wrong, and that can even cost a company its head. Start before July 1, 2026, then you maintain control over the planning and can find an advisor.'
This urgent plea underscores that pension transition is not just a formality, but a strategic HR- and financial task that requires time, attention, and planning.
The pension scheme does not wait
For employers, it is simple: the deadline of 2027/2028 is realistic, but preparations are already underway. Starting before July 1, 2026, increases the chance that you not only comply with the law but also establish a future-proof pension scheme that fits your personnel policy and financial strategy.
Do you want practical tools, tips, or animations about the pension conversion? Visit werkenaanonspensioen.nl – the central information source for employers in this transition phase.
