The Future of Pensions Act (Wtp) was adopted on 1 July 2023. This law requires that all pension schemes must comply with the regulations of this new law by January 1, 2028 at the latest. Many pension schemes that fall within the scope of the Banking Collective Labor Agreement need to be adjusted.
Negotiations
Negotiations on the minimum pension scheme in the Banking Collective Labor Agreement will start on Tuesday, February 13, 2024. Because the Banking Collective Labor Agreement has a minimum pension scheme, the outcome of this consultation does not have direct consequences for the pension of our members. With these negotiations we want to provide a solid basis for the pension negotiations that must be held per bank. This adjustment has become necessary due to the introduction of the Future Pensions Act (Wtp) in July 2023.
Proposal letter
The framework that De Unie deems appropriate, is included in our proposal letter.
The proposal letter focuses on various aspects:
- the minimum conditions that the pension scheme must meet
- strengthening the negotiating position of the works councils
- strengthening the control of the participants
Adjustments to pension scheme
After the pension consultation has been completed, the banks and works councils can start adjusting the pension scheme to comply with the Wtp, taking into account the given collective labor agreement framework. Because the collective labor agreement has a minimum pension scheme, there will be room to go beyond the collective labor agreement. This is comparable to the current situation where many pension schemes offer better provision than the minimum pension scheme in the collective labor agreement.
Not all companies have pension consultations
A different situation applies to some banks, they have used the so-called deferential effect. Then two pension schemes continue to exist side by side. A Wtp scheme for new employees and an old scheme that remains applicable to employees who were employed before the Wtp came into effect.
Continuation
Our members will receive a report of the consultation of February 13, 2024.
The second consultation will take place on February 27, 2024.
Contact
Do you have questions about this message or do you have information that you are using De Unie want to share? Please contact our advocate Inge de Vries. This can be done by sending an email to: inge.de.vries@unie.nl