The bank and the unions have been consulting in recent weeks about the consequences of the announced FTE reduction and the transition to the new pension plan. The intended effective date of the new pension plan is January 1, 2027.
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We're happy to inform you about any agreements that have been reached. This information is important if you're leaving the bank through the social plan.
New pension scheme and compensation
The new pension plan abolishes the current pension accrual system, so everyone contributes the same premium. Therefore, there will be a one-time pension compensation.
This compensation is intended to compensate for the difference in pension accrual between the old and the new scheme, from the start of the new scheme until your state pension age.
The compensation:
- Paid by the pension fund;
- will be added in one go to your pension pot at the ABN AMRO Pension Fund.
Normally, if you leave employment before January 1, 2027, you will not receive this compensation.
Voluntary continuation of pension accrual
A proposal has now been agreed upon that will change this.
If you leave the bank after March 1, 2026, through a termination agreement in accordance with the social plan, you can voluntarily continue building up your pension.
If you do this, you will remain a participant in the pension fund and you will still be entitled to the one-off pension compensation.
We would like to emphasize that the bank was initially not prepared to do this. De Unie has strongly advocated for this. We are pleased that the bank ultimately cooperated. For us, this proposal is a clear improvement over no arrangement.
Important conditions
Please read the following points carefully before making your choice:
- The arrangement only applies if you leave from 1 March 2026 via the social plan and runs until the (possibly postponed) transition date.
- You pay for your pension accrual yourself. This means that both the employee's and employer's portions of the pension premium are deducted from your net severance pay at once.
- You can only participate if your severance pay is high enough to cover these costs. You may be able to deduct the pension premium paid from your tax return. The bank will not assist with this. Any tax consequences are your own responsibility.
- You may not accrue pension with another employer during this period. Double pension accrual is not permitted.
- If you do start building up a pension elsewhere, you must report this immediately. Your pension accrual will then stop immediately, and you will lose your right to compensation. Any excess premiums paid will be refunded.
- This arrangement is expected to be unaffected by unemployment benefits, as long as you are available for work. If the UWV does make things difficult, you can file an objection.
- The transition to the new pension plan may be postponed due to approval from the Dutch Central Bank (DNB). In that case, you will only receive compensation if you continue accruing pension until the new date. From January 2, 2027, you will then pay the premium monthly in advance.
- The amount of pension compensation may still change if DNB does not approve the calculation. You can find here a calculation tool. The amounts in the enclosed calculation tool are therefore estimates.
- You find here the entire agreement, which you can read at your leisure.
And finally
We believe it's important that you know exactly where you stand so you can make an informed decision. If you need personalized advice about your specific pension situation, our pension experts are ready to assist you. Do you have questions or would you like to discuss what this means for you? Feel free to contact us.
Contact
If you would like to contact us about this message or other collective matters, please contact your advocate Emanuel Geurts via emanuel.geurts@unie.nl / 06-5252 2074 and Esther van Berkel via esther.van.berkel@unie.nl / 06-2346 6585. If you require individual advice, please contact the Service Center department via sc@unie.nl or 0345-851 963. We are happy to help you!
