On 24 June 2016, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a position paper on a future-proof pension system in the Netherlands. In its position paper, the AFM sets out three principles which require careful consideration for a new pension system:

  • all pension accounts should be personalised, allowing pension members to transfer their pension when changing jobs. This will provide pension members with better insight into their pension and more flexibility;
  • differences between pension members should be taken into account. Personalised pension accounts make it possible to better align the building up of pensions to the personal situation of different pension members; and
  • maintaining a balance between freedom of choice and protection of pension members. The AFM believes that the requirement to build up a pension should be maintained and may need to be extended to certain groups of individuals, such as self-employed persons, if they fail to save for their pension.

View the AFM’s news item (Dutch only), 24 June 2016.

View the AFM’s position paper (Dutch only), 24 June 2016.