Negotiations on the new pension scheme are almost complete. De Unie, ING and the other trade unions have been able to find each other on many points. The next consultation will be on September 6, 2024. The intention is that we will then reach agreement on the transition plan.
How far are we?
The parties have agreed on many matters. Of course we are talking about two pension schemes. The current pension scheme in which you accrue pension with the ING-CDC pension fund (ICP) and the closed pension fund in which ING employees have accrued pension until 2014 (PFI). Both schemes will be adapted to the new legislation (Wtp). The changes are recorded in a transition plan, and this transition plan is implemented De Unie presented to the members.
Main points for now
The transition plan is not yet final. Therefore, it is still too early to provide detailed information. But a number of main points have been established. For example, the amount of the premium; the compensation for the abolition of the average system; the survivor's pension.
Further explanation of some main points
PFI
We assume that PFI will remain a closed pension fund that will comply with the new pension legislation. The collective labor agreement parties opt for a solidarity-based premium scheme, while maintaining indexation expectations and avoiding investment risks.
ICP
The collective labor agreement parties believe that participants have an interest in moving from the current pension scheme to the new pension legislation. As a result, we start the new scheme with sufficient capital for a healthy pension fund. We opt for a flexible premium scheme. It was the wish of the majority of the members of De Unie to implement the new pension accrual in the flexible contribution scheme (FPR). The FPR offers the opportunity to let employees make their own choices regarding their pension. The parties to the collective labor agreement believe it is important that employees have a good understanding of the consequences of the options, so that they can make a well-considered choice.
Premium
The pension premium remains unchanged.
Compensation
Until now, the pension funds have always worked with the so-called average system. This system leads to younger participants subsidizing the pension accrual of older participants. On the assumption that these younger participants will at some point become older participants and then receive a subsidy. This system is being broken by the introduction of the new pension legislation, the average system is being abolished. As a result, participants may have adverse effects as a result of the transition to the new pension scheme. They have subsidized other participants in the past, but this has not yet been made up for. The new legislation rightly prescribes that these employees must be adequately compensated. We do this from the accrued pension buffers.
Survivor's pension
We choose to bear the consequences of death in solidarity. If an employee unexpectedly dies before the retirement date, it is important that the partner and any children receive a good benefit. We assume that ING employees want to support each other in this situation. This survivor's pension is paid collectively.
The partner's pension: the pension that you accrue for your partner in connection with possible death after retirement age will not change in the new pension scheme.
What still needs to be done?
De Unie believes it is important to agree on the new pension scheme in close consultation with the pension fund. After all, we must be sure that the pension fund is also willing and able to implement the new scheme. The same applies to the transition from old to new. This consultation with the pension fund has not yet been completed.
In the new pension legislation, the association for pensioners (or former employees) has been granted the right to be heard. The collective labor agreement parties give these organizations the opportunity to express their opinion and we take the considerations into account in the decision-making process about the transition plan. Consultations with the pensioners' association have already started but have not yet been completed.
Continuation
The next consultation between the collective labor agreement parties will be on September 6, 2024. The collective labor agreement parties aim to agree on a draft transition plan on this day. This draft transition plan is offered for the right to be heard. After September 6 you will receive the next update from De Unie.
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Contact
If you have any questions or comments about this message, please contact us. This can be done by sending an email to: mandy.raijmakers@unie.nl of inge.de.vries@unie.nl.
