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On July 1, 2023, the new pension law came (Wet toekomst pensioenen) into effect. The new pension law aims to make the system more balanced, flexible, personalized, and transparent. The underlying principle of the new law remains that pensions are collectively built, and financial risks are shared. Employers and employees contribute premiums, pension providers invest that money, and distribute pension benefits.

One of the changes in the new pension system is that pension providers can now more quickly use the returns from their investments to increase pensions. Conversely, in case of disappointing results, pensions may also decrease. The new pension law provides for buffers to mitigate this as much as possible. Additionally, the new pension law ensures that it becomes clearer and more personalized how much pension has been accrued. A participant’s pension now consists of all premiums paid on behalf of that participant, plus the return that this money has generated.

In the Netherlands, pensions are based on a three-pillar system, consisting of a basic provision from the government, an employer-provided pension and private provisions. The new pension law brings changes to all three pillars comprising the Dutch pension system, resulting in almost every pension scheme being affected by this reform. For almost all employers, the new pension system implies significant changes ahead. There is a transition period of 4.5 years during which pension providers have the opportunity to implement the new pension schemes. All Dutch pension schemes must comply with the new legislation by January 1, 2028, at the latest.

In the – English spoken – webinar on April 2 from 12 – 1 pm, we will provide a brief overview of the pension system in the Netherlands and the new pension law, including the key changes. We will also inform you when action is required. In the webinar, we will focus on the second pillar, the employer pension. Click here for more information about the webinar.

Do you have any questions about this topic or any other employment law issue? Please contact Esmée Koster ( or one of the lawyers from the employment law team at Valegis Advocaten.

Valegis Advocaten

Valegis Advocaten, with offices in The Hague and Amsterdam, is the law firm for (international) entrepreneurs and companies; modern legal services, clear, pragmatic, solution-oriented and with integrity.

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