De Unie presents the pension negotiation result with positive advice.
Preface
The Future Pensions Act (WTP) came into effect on July 1, 2023. This means that we must adapt Holland Casino's pension scheme to the requirements of the new legislation. Consultations on this matter have been going on for two years. You have already been informed about this a number of times by both De Unie as Holland Casino.
De Unie closely involves the members in this decision-making, just as in collective labor agreement negotiations. We hereby present the new pension scheme to our members. The members ultimately decide whether the pension scheme will be adopted or whether the parties will have to repeat their work.
Not everyone is well versed in pensions. To give everyone the opportunity to cast an informed vote, I would like to provide some information about the choices that social partners have made at Holland Casino.
Choosing the solidarity premium scheme
After careful consideration, the social partners opted for the solidarity premium scheme. This was chosen because it best suits the participants (based on the results of the participant survey) and the wishes of the social partners. In the new pension scheme we agree on a fixed premium. You use that premium to build up your own pension assets. That pension capital can rise faster when the economy is doing well, but can also fall faster when the economy is doing poorly.
What is entering?
Entering is a new concept. This means that the accrued pensions (the entire assets managed by the pension fund) will be transferred to the new scheme. Because the WTP only allows premium schemes, this means that the collective pension assets are converted into personal pension assets. Each participant will soon have his own pension assets.
In the current pension scheme, pension funds are legally obliged to maintain large buffers. This no longer applies in the new pension legislation. In theory, the money that is no longer needed for the buffer is released and can be distributed. The implementation costs are also lower if sailing takes place. Only one scheme needs to be implemented and not two.
How do collective labor agreement parties work?
We need to develop a policy regarding entry. This starts with thinking about the goals of entering. We are now working on giving substance to important concepts such as proportionality, effectiveness, explainability and future-proofing. If the collective labor agreement parties agree on this, we can continue. The aim is to arrive at a balanced decision that does justice to the interests of the different target groups and age cohorts.
Solidarity reserve (new buffer in the new pension scheme)
In the solidarity pension scheme, everyone has a personal share in the assets. Together, all participants form a buffer for bad times. We call this buffer the solidarity reserve. The purpose of this is to prevent or limit a decrease in a pensioner's benefit and to prevent negative assets. If necessary, capital is withdrawn from the buffer to absorb negative consequences.
Premium & ambition
The current fixed premium of 24% of the pension basis has been agreed in the solidarity contribution scheme. Of this 24%, 7% is paid by the employees and 17% by the employer.
Survivor's pension
Social partners agree on the following partner's pension in the new pension scheme:
- A lifelong partner's pension of 20% of the salary;
- An orphan's pension of 10% of the salary;
- A benefit of 25% ANW shortfall until the partner's state pension age.
The accrued survivor's pension until 2021 remains applicable.
Entry age and retirement age
The target retirement date will be changed from 67 to 68 years. This change has no effect on the value of the pension scheme, but is therefore in line with the standard in the pension sector. It is still possible to retire at the age of 67 (or younger) by bringing forward your pension.
From January 1, 2024, everyone aged 18 and older will participate in the pension scheme. This is a legal requirement. In the current pension scheme, this is from the age of 21.
Legal framework
Collective labor agreement parties do not have to reinvent the wheel themselves. The WTP provides many regulations, the regulator (DNB) has provided a manual and we can learn from the pension funds that are already further along in the process.
Pension negotiation result
You can use here read the negotiation result that De Unie has concluded in the field of pension. Holland Casino is organizing another session in which some things are explained digitally, in line with what we have done above. De Unie opts for a personal approach, if you have any questions you can contact our pension expert.
Contact
If you have any questions about the pension negotiation result, please contact De Unie. This can be done by sending an email to our pension expert John.Eggen@unie.nl
Voting until November 15, 2023
De Unie presents this result to you with a positive advice. The members have received an invitation to vote until November 15, 2023.
Contact
Do you have a question or comment about this message? Please contact the representative Victor Kloos at victor.kloos@unie.nl† If you have an individual question or need advice, please contact our Service Center via sc@unie.nl or by telephone on 0345-851 963.
