New pension system

17 September 2019

At the beginning of June 2019, an agreement was reached between the social partners (employers and trade unions) and the government on a new pension system. For many pension funds there was a great need to agree on new pension rules. In the new proposal, pension funds will soon be able to move more easily and more quickly with the economy. The state pension age will be frozen until 2021, after which it will rise more slowly than previously agreed.

What does this mean for Mars Pensioenfonds and our pension?

We don't know yet, but it will certainly take some time before the changes can actually be implemented. Early retirement will also remain possible in the future system.

The precise consequences of the new agreement will be further elaborated in the coming period in legislation and possible transitional rules. That could take several years. Only once legislation becomes clear can MPF begin to determine what it means for our pensions. The contours of a new system are expected to be known by the end of 2020. The legislation should be finalized by the end of 2021.

State pension age

A concrete measure that has been introduced is that the increase in the state pension age will be slower than originally intended. This is done in two steps.

Step 1: raising the state pension age until 2025

in 2020 and 2021 the state pension age is 66 years + 4 months

in 2022 the state pension age will be 66 years + 7 months

in 2023 the state pension age will be 66 years + 10 months

in 2024 the state pension age will be 67 years

Step 2: raising the state pension age from 2025

Were you born after December 31, 1957? In that case, your state pension age is not yet known. It depends on life expectancy. Go to (when will you receive AOW?). If you enter your date of birth, you will see your estimated state pension age according to the Pension Agreement.

We will of course communicate more about all changes as soon as more is clear.

The main proposed changes in outline

  • Pensions are becoming less certain. As a result, pension funds can increase pensions more quickly if things go well. But pensions also go down faster if things don't go well.

  • Another point is that people with a demanding occupation can stop working earlier.

  • The age-independent pension accrual, also known as the average system, is disappearing. As a result, young people accrue more pension than older people. The premium can pay off for longer. Young people therefore receive a relatively higher pension accrual at a younger age compared to pension accrual at an older age.