Pension providers expect delay to Dutch pension transition

Two-thirds of Dutch pension providers consider it likely the transition to a new defined contribution (DC) pension system will not be completed by 1 January 2028. The main bottleneck is the providers themselves, according to a survey by IT consultant Eraneos among 12 pension administration organisations.

Some 67% of respondents see a ‘high’ or ‘very high’ chance that the end date of 1 January 2028, by which all Dutch pension funds must have switched to the new DC system, will not be met. Only one interviewed organisation sees a ‘small’ chance of this happening.

Last year, in a similar survey, just 34% of respondents estimated the probability of the end date being pushed back as ‘high’ or ‘very high’.

The legal end date for the pension transition is currently 1 January 2027. However, former pensions minister Carola Schouten promised to push that deadline to 1 January 2028.

The law arranging this move is currently pending in Parliament. The discussion of this law has become complicated after New Social Contract (NSC) member of parliament (MP) Agnes Joseph tabled a controversial amendment to this law mandating ballots on the pension fund level about allowing the conversion of defined benefit (DB) accruals to DC.

2026 transition

Some 53 funds with collectively as many as 11 million participants are now scheduled to make the transition to DC on 1 January 2026, after many funds postponed their original transition plans. The January 2026 date is now the busiest transition date and thus the ‘peak’ in the current schedule.

According to 58% of respondents in the Eraneos survey, the chances are ‘slim’ that all of these pension funds will meet the 2026 target. In addition, 34% see a ‘reasonable’ chance of this happening and only 8% believe there is a high chance.

Bottleneck

Pension providers see their own operations as the main bottleneck. According to the survey, 52% cite the implementation of new IT systems as a potential source of delay. In second place are regulatory approvals (35%).

Delays caused by social partners or the legislative process are much less seen as risks at this stage, both being mentioned by only 6% of respondents.

This article was first published on Pensioen Pro, IPE’s Dutch sister publication. It was translated and adapted for IPE by Tjibbe Hoekstra