ABP delays transition to new pension system until 2027
ABP, the largest pension fund in the Netherlands, has announced that it will switch to the revamped pension system on January 1, 2027, instead of the previously planned 2026.
ABP, the largest pension fund in the Netherlands, has announced that it will switch to the revamped pension system on January 1, 2027, instead of the previously planned 2026.
This one-year extension is possible due to Minister Schouten granting pension funds extra time to effectively implement the new pension regulations.
Yolanda Verdonk, Executive Director of Pensions at ABP, emphasized the importance of a careful and controlled transition for the participants by saying: “We want to move our participants to the revamped pension system as quickly as possible. At the same time, we consider it essential for their benefit that the transition is done carefully and in a controlled manner. Therefore, we will make use of the additional time provided by the Minister, as this is indeed a significant task.”
ABP intends to utilize the additional time provided by the Minister to thoroughly test and refine the new processes and systems associated with the new pension rules.
