Want a pension scheme for your company? We are the Dutch pension consultant for your business. If your company is based in the Netherlands (or soon to be), we can help you to set up a pension scheme for your employees. A Dutch pension scheme is important for international companies to attract new employees with good labour conditions. Too many times we see, as Dutch pension consultant, international businesses coming to the Netherlands and wondering why they can’t attract new employees. One of the things is that the ‘bar’ is set much lower in other countries regarding a healthy pension scheme. Because the labor market is tight, potential employees have a great choice of possibilities. If you are a company in IT, for example, you need to propose great labour conditions to win from your competitors.
Independence in pension advice
Want a full independent pension advisor? Full independence is hard to find in the Dutch pension consultant world. There are only a few pension advisers who can provide pension advice completely independently of pension insurers. We have no turnover obligations and we are not part of a pension insurer. Nor are we paid by them. We can provide Dutch pension advice with only one interest in mind; that of the company who will pay our bill: the employer. The only limits that we take into account are the requirements of you as an employer and the requirements of the pension law and the Dutch regulator.
Pensionmanagement Dutch pension consultant
We have the knowledge and experience as a Dutch pension consultant that is needed to advise organisations. To provide them with a policy framework for resolving these issues. The wealth of knowledge built up during the sector’s long history means it has the expertise to deal with wide-ranging forms of pensions. Whether they are defined benefit or defined contribution schemes or a hybrid form. And whether they are part of a sector pension fund or an organisation’s occupational fund or directly insured by an insurance company.
Disability insurances
A Dutch pension consultant & management is often accompanied by specific other employment conditions such as absenteeism insurances of disability insurances. In addition, synchronization will be of great importance in order not to cause conflicts from these employment conditions towards employees. We allow the conditions to connect seamlessly from pension management to these additional employment conditions. Naturally, a connection is sought with the information as laid down in the employment contract and the personnel guide / commitment. Want more information? Give us a message!
(Sickness) absenteeism and pension management
Sickness absence has an important influence on pension management activities in several respects. To what extent will the premium have to be paid? (UWV info) How is care leave handled and what happens if the absenteeism changes from sick leave to incapacity for work? Are there any consequences for the progress of pension accrual? At what time will the pension insurer be informed and which administrative route must be followed by the Dutch pension consultant? Here, too, a connection is sought with the information as recorded in the employment contract and the personnel guide / commitment.
Standardization in the Orphan’s Pension
The orphan’s pension, part of the surviving dependants’ pension for the employee, also changes. Standard is that the orphan’s pension is paid out until the age of 25. The amount of the orphan’s pension is a maximum of 20% of the salary, unless there are ‘double orphans’ where both parents are deceased. In that case, the orphan’s pension is a maximum of 40% of the salary. Compared to the amount of the partner pension, these percentages mean a doubling of the orphan’s pension compared to the current situation.
Divorce/separation
If your employee is divorced or separated, his or her former partner is entitled to half the retirement pension built up during the marriage. The former partner can also waive this pension equalization. Such an arrangement must be set out in the divorce settlement.
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Calculation partner’s pension (ANW)
Partner’s pension before the pension date is a percentage of the pension base multiplied by the number of years of service. The partner’s pension can be insured based on final pay or average pay. Its maximum accrual percentage for final pay is usually 1.160% of the pension base per year of service. And the maximum accrual percentage for average pay is often 1.313% of the pension base per year of service. Also, the risk premium for partner’s pension comes on top of the available premium.
The government ensures with the survivor benefit from the Surviving Dependants Act (Anw) that survivors have a basic income. The Social Insurance Bank (SVB) pays out this benefit. We, as your Dutch pension consultant, can eleborate further if needed.
What are lifecycles?
Lifecycles take into account your age and the period until the moment you retire. If you are young, the contribution is invested with more risk to give the starting capital significant growth opportunities. As your pension date approaches, the investments become less risky. A substantial pension capital has already been built up with which – just before the pension date – less risk may be taken. Want to know more about lifecycles? You can discuss the possibilities of hardship with your Dutch pension consultant, but not the risk itself for investing. Every year they check whether the actual investment mix still matches the chosen investment scheme in a collective flat rate pension scheme. If necessary, the investments are automatically adjusted.
Passive lifecycles
flat rate pension In a collective flat rate pension scheme, to keep costs as low as possible, you are invested in so-called passive investment funds. A passive investment fund follows the benchmark. A benchmark is a predetermined standard (for example, the AEX, or the DowJones). Unlike an active fund, a passive fund is not actively managed. As a result, returns are comparable to those of the benchmark. The fund manager tries to follow the benchmark and not to beat it.
Calculation living bonus
Living Bonus, also known as a life bonus, is an additional amount periodically added to the value of your pension investments as long as you live. It can be difficult when you’re not a Dutch pension consultant, but to make it simple:
NN: “We pay the life bonus from a separate account: a depot. Here, we deposit the value of the investments of all (former) participants in a similar investment pension (‘premium scheme’) with us, which we do not pay out if they pass away before the pension date. The capital in the depot is a sum of money in euros, which we do not invest. The amount of the life bonus depends on the amount in the depot. We determine the amount as follows. You receive a monthly bonus, and the amount depends partly on the value of your investments. If you have a higher investment value, you will receive a higher bonus.”
ASR: “Upon the death of a (former) participant, the pension capital accumulated after the adjustment of the pension scheme to the WTP lapses. The released capital is distributed among all participants in Doenpensioen where this module is also included in the pension scheme made by your Dutch pension consultant. The capital to be distributed is determined on the reference date of November 1st over a period of 12 calendar months and is allocated according to the share of the (former) participant in the total pension capital.”
Want more information on living bonuses? Your Dutch pension consultant can tell you more.
Dutch pension consultant communication
Communication towards stakeholders is legally mandated under the Future Pensions Act (WTP). Who informs them with what information and when? This involves the tax authorities, pension provider, participants, accountant, shareholders, and payroll administrator.
Coordinating the pension consequences upon retirement, disability, and death of an employee requires direct technical action and careful guidance by a Dutch pension consultant. Providing information to and preparing meetings with the Works Council (OR) or employee representative body (PVT) is also essential. A well-prepared employer can manage pension schemes seamlessly with our support. Documenting pension texts in employee guides and employment conditions can prevent surprises. The intended pension scheme must be consistent with the promise in the employment contract, the employee handbook, and the Pension 1-2-3 information for the employee.