In the new year we resumed the pension negotiations. We have had a large number of calculations made on the basis of the workforce to gain a good insight into how our current CDC scheme compares to the solidary contribution scheme and the flexible contribution scheme (the two schemes within the new pension agreement). We see a development in the interest rate that leads to a higher accrual. This structure has been reduced considerably in recent years. This is a reason to take a critical look at the scheme as it currently exists and to investigate what alternatives there are.
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Although the trade unions have a preference for the solidarity contribution scheme, we recognize the wish of the organization and a large part of the employees (arising from the in. among employees last year) for freedom of choice in the context of the level of pension contribution and degree of risk, which is in line with the flexible contribution scheme. In the calculations we also see that the flexible contribution scheme is expected to generate slightly more pension capital than the solidary contribution scheme, where part is placed in a buffer to absorb any negative shocks. Absorbing any negative shocks is an important point for the trade unions. Nevertheless, a movement has been made from the trade unions to jointly investigate what a possible flexible contribution scheme could look like. An important point here is that we are jointly striving for a new pension scheme as of 1 January 2023, while a transition to a solidary contribution scheme will take a few more years, partly due to lagging regulations.
Topics we will be discussing in the near future are:
- What do the lifecycles within a flexible contribution scheme look like?
- Which facilities must be provided to enable employees to make the right choice for a lifecycle?
- Which premium (employer/employee) is appropriate for this?
- What does this mean for the pension already accrued at, among others, the current pension fund SNS Reaal?
- What options are there for the benefit phase, in which a collective is also an option?
- What are the implementation costs for a scheme?
- What options and flexibility do we offer?
- Which administrator will implement the pension scheme from 1 January 2023?
In short, there are still plenty of subjects in which Athora and the trade unions have to reach agreement.
Please comment or have any questions. You can email the advocate, Harma Pethke, at harma.pethke@unie.nl.
We will of course keep you informed about this process and its progress in the coming months.
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