The government is coming up with new rules for retirement. These new rules are going to change your pension plan. The House of Representatives (Tweede Kamer) has approved the Future Pensions Act containing these pension rules. In January, the Senate (Eerste Kamer) will consider the law. If the Senate also agrees, the law will take effect on 1 July 2023. The new pension plan must take effect no later than Jan. 1, 2027.
To meet that deadline, affiliated companies and employers are currently in negotiations to shape the new pension plan. The affiliated companies represent the interests of the participants at the negotiation table. The pension fund is not concerned with the content of this new plan, but is closely involved and assists Mars and its affiliated companies with information and advice.
Why is the government coming up with new rules for pensions?
1. Clearer and more personalized retirement
It is now unclear to many people how much they pay for their pension and how much they accrue. With the new rules, everyone builds up a pension through a premium scheme. This pension specifies how much money (premium) you and your employer put into your pension.
2. Pension can go up faster than now
When the economy is doing well, sometimes the pension through your employer does not go up now. That feels unfair. The new rules ensure that this pension moves with you: if the economy is doing well, your pension can go up sooner. Is the economy worse? Then your pension can also go down.
The new rules do ensure that the movements become less when you are (almost) retired. Because the pension of a younger worker has more time to absorb investment setbacks than that of older workers.
3. Pension better matches your career
People are increasingly changing jobs, stopping work for a while or starting up for themselves. The pension rules currently do not fit in well with this. That is why new rules are coming in. Are you no longer building up a pension through an employer or are you getting a different pension plan? Then you will soon see more clearly what this means for the amount of your pension.
Timeline
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2019-2021: Pension agreement
The pension agreement has been concluded and detailed in a draft bill.
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2022: Adoption of the bill
The bill will go to the House of Representatives and then to the Senate. If they approve the proposal, the new pension rules will become law.
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1 July 2023: effective date of new pension rules
The new legislation comes into force. Mars and its affiliated companies agree on the transition to the new pension scheme. We help them with this. We have already started the preparations.
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No later than 1 January 2025: Decision on your new pension scheme
Mars and its affiliated companies decide on your new pension scheme.
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No later than 1 January 2027: New pension scheme takes effect
The new pension scheme is ready and takes effect.
We will keep you informed
There is still much to be worked out and choices to be made. That will take a few more years. As soon as it becomes clear what impact the changes will have on your pension, we will of course inform you.
Would you like to be informed earlier about important developments towards the new pension scheme? Sign up for our digital newsletter to receive up-to-date information. Log in to MyMarspension and go to My Details to sign up with one click.
I am not yet receiving a pension and want to know more about what the new rules mean for me.
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What is the pension agreement?
The pension agreement is the agreement that the government, together with employers and trade unions, made in 2019 about the future of our pension system. Since then, the Ministry of Social Affairs and Employment has been working on the new pension rules.
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Why are there new rules for pensions?
Our society has changed a great deal in recent years. People live for longer and are less likely to work for one employer their whole lives. The pension system must adapt itself to this. That is why the government, together with employers and trade unions, has concluded a pension agreement with new rules for pensions and AOW (state retirement pension). The Pensions Act will need to be amended to implement the new rules. A bill has been submitted for this purpose.
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When do the new pension rules come into effect?
The aim is for the new pension rules to take effect on 1 July 2023, but it will take much longer for the pension scheme to be adjusted accordingly. Mars, its affiliated companies and the pension fund have a few more years to make the new agreements specific to their own pension scheme and to prepare for their implementation. The introduction must be arranged by 1 January 2027.
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What does this mean for my pension at the moment?
For the time being, nothing changes. Your pension accrual and pension benefits will continue under the current pension scheme. As soon as the new legislation is in place, Mars and its affiliated companies will make new arrangements. Once they have been made, there will be a new pension scheme.
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Does it make a difference whether you retire before or after the introduction of the new pension rules?
No, it makes no difference. The new pension rules apply to new pension accrual from the introduction of the new pension rules. Whether the new pension rules will also apply to pension that has already been accrued has yet to be decided. It makes no difference whether you have already retired or are about to retire. If it is decided to convert already accrued pensions to the new scheme, then all accrued pensions will be converted, including pensions that have already started.
I already receive a pension and want to know more about what the new rules mean for me.
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Do the rules change for me as well?
Yes, even if you are already receiving a pension, you will be affected by new rules for your pension. Unfortunately, what these new rules mean for your benefit is not yet known. Mars and its affiliated companies will agree on this in the coming years.
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I don't want the rules for my retirement income to change, is there anything I can do about it?
No, participants cannot do anything personally. Mars and its affiliated companies make the decision whether accrued pension rights and entitlements will be covered by the new pension plan. This is also known as "invaren". All the regulations surrounding the new pension rules and vesting are in the Bill on the Future of Pensions (WTP). The WTP does not include an individual right of objection. This means that participants cannot personally choose whether the new rules will also apply to their pensions.
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When will more be clear about my future retirement income?
It will be some time, however, before we can show you what the changes mean for your retirement benefits. No later than January 1, 2027, the pension plan will have been adjusted. We understand that this is an uncertain time. In the coming period, Mars and its affiliated companies , in close contact with the pension fund, will determine what the new pension plan will look like. They will ensure a balanced outcome for all (former) members and pensioners. As soon as choices have been made, you will receive more information about this.