First elaboration of pension agreement known for ABP participants
In the first elaboration of a pension scheme at ABP, the unions and employers have provisionally opted for the new pension contract and thus to continue to invest collectively. All ABP participants then receive a separate share in this. This choice was the bet of the AOb.
“It provides the most solidarity and the most collectivity,” says Roelf van der Ploeg, AObpolicy adviser on pensions, who negotiates about the ABP scheme.
Minister of Social Affairs Wouter Koolmees concluded with the unions and employers in 2019 a pension agreement. This agreement was then further elaborated with more details last summer. After that, it was the turn of the unions and employers' organizations to make a start on a new pension scheme with the ABP that should start in 2026. “The pension agreement provided choices for further elaboration,” says Van der Ploeg.
For example, it was possible to opt for a pension contract in which the ABP pension fund continues to invest collectively and works with a solidarity reserve or for a pension contract based on an individual fund with individual choices for investments per participant (the improved contribution scheme).
Van der Ploeg: “The choice for the new pension contract means that one large pot of money is collectively invested and that subsequently participants each receive a share individually. This therefore applies to everyone who is affiliated with ABP, about a million people who work for the government and in education. ” The AOb and FNV were in favor of this and have focused on this during the negotiations. “This choice involves solidarity and prevents 'bad luck and happiness generations' as much as possible. Collective investing also yields more than individual investing, ”says the negotiator.
'In this choice, bad luck and happiness generations are avoided as much as possible'
The FNV was less enthusiastic about the other option, whereby investments are not made collectively, but separately. “A reserve for solidarity does not fit in well with this,” says Van der Ploeg. Moreover, the consequence of this choice is that there will be larger outliers up and down.
For the time being
Van der Ploeg emphasizes that it is still a preliminary choice. "We cannot make a final choice yet, because the legislation is not yet final." For now, the unions and employers will continue to work on this track. “From now on we will look at how we will further flesh out this scheme in the ABP pension scheme. Then it concerns questions such as how risky we want to invest and what premium must be paid and agreements to move from the old system to the new pension system. ”
Also read our frequently asked questions about the pension agreement or look at us previous article about taking early retirement.