10 questions about your new pension
The new pension law came into effect on 1 July 2023. The law states that all pensions must comply with the new rules by 1 January 2027. As a result, TNO Pension Fund must replace the existing pension scheme before this date. Our aim is to have the new pension scheme in place on 1 July 2026. What does that mean for your new pension?
1
The law came into effect on 1 July 2023. Do I have to do anything?
You don’t need to do anything yourself to make sure your pension complies with the new pension rules. However, it’s important to check your contact details and update them if necessary. To do this, go to 'My pension' (top right of the TNO Pension Fund website) and log in with your DigiD.
Make sure all your details are correct. Check www.mijnpensioenoverzicht.nl to see if you have also accrued pension elsewhere, and check your details.
2
Can I choose to continue in the existing pension scheme?
No, you cannot choose that individually.
3
I’ve already retired. Do the changes also apply to me?
Yes, TNO Pension Fund’s social partners have decided to transfer the accrued pension entitlements and rights to the new scheme. The existing pension entitlements and pension rights will therefore be converted into 'personal pension assets'.
If you’ve built up another pension elsewhere, it depends on what the social partners of that pension fund have decided. If you have a pension with an insurer or premium pension institution, usually your pension will remain unchanged.
4
When will I find out how this affects me?
That depends on the agreements made by each pension fund. TNO Pension Fund shared the first insights in the October 2023 webinar. You can watch this webinar again (English subtitles). TNO Pension Fund is now working together with TNO and employee representatives (the TNO works council) to make further agreements and calculations regarding the new pension scheme. These agreements will be posted on our site no later than 2025. You will receive personal information about your pension from us at this time.
If you also have a pension with an insurer or premium pension institution through any previous employers, you will be notified as soon as a new scheme has been concluded. That will happen between now and 1 October 2026.
5
How can I take part in discussions about changes to my pension scheme?
Employee representatives (the TNO works council) will make agreements about the new pension scheme with TNO on your behalf. The works council will involve you, and let you know about the negotiations and agreements made.
If you wish to share your own ideas about this, contact the works council or the association of pensioners (vereniging van pensioengerechtigden eTNOs).
If you disagree about the new arrangements made, the court is the appropriate authority to decide disputes about changes to your pension scheme.
6
What will happen to my pension in the near future?
The employee representatives (TNO works council) and TNO are making agreements about your new pension scheme.
TNO Pension Fund is keeping track of your current pension entitlements. Based on the new agreements, they will convert that entitlement into assets that you have accrued for your pension. Legally, this conversion must be applied in a balanced manner for all participants, former participants, and pensioners.
7
What can I do if the amounts in my new pension scheme appear to be incorrect?
Contact your pension provider: AZL. They can answer your questions and provide explanations. If you’re still unhappy, you can lodge a complaint with the pension provider or submit a dispute to a special authority: the ‘Geschilleninstantie Pensioenfondsen’ (Pension Fund Disputes Authority). This authority has been providing binding advice from 1 January 2024, unless you opt for non-binding advice. You can also take your case to the courts.
8
Does that mean I’ll soon be able to access my pension pot myself?
No, it doesn’t. Your pension assets will be used for lifelong pension payments. We will continue to manage it jointly via a pension fund. However, it will become clear what you have built up yourself and how much you and your employer have invested together.
9
Will my pension now increase or decrease every month?
No, it won’t. Usually, your pension payout will only be changed, if at all, once a year.
10
Could my pension be drastically reduced suddenly?
If it was agreed in your pension scheme that your pension fluctuates in line with economic trends, the amount of your pension may change. Under the new rules for pensions, pension funds can use the proceeds of their investments to increase pensions more quickly.
It also works the other way around: in a downturn, pensions can be reduced. However, a few things have been arranged to reduce the chance of excessive fluctuations. Pension providers generally invest in 'life cycles': less risky investments are prioritized as a participant approaches retirement. Providers can also maintain reserves to absorb setbacks. Finally, they can spread the change in benefits over several years.