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NN Group: Pension consultation will continue on May 30, 2024

May 21, 2024

On Thursday May 16th De Unie and other trade unions consulted with NN about the pension scheme. The objective of this consultation was an agreement on the defined contribution scheme in which you are now actively accruing a pension. This scheme must be updated and brought into line with the Future Pensions Act (Wtp).  

However, during the consultation it turned out that one of the parties had not completed the preparation sufficiently, which meant that they could not yet make a decision. We have therefore decided to interrupt the consultation and continue on May 30. De Unie will be able to submit an agreement to the members after May 30.

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Closed pension funds

As an NN employee you can deal with four different pension funds, as there are also three closed pension funds. No new pension accrual takes place in a closed pension fund. Closed pension funds must also, in principle, switch to a scheme in accordance with the Wtp.

Social partners are in discussions with all three closed pension funds to investigate whether the transition to a scheme in accordance with the Wtp is in the interests of the participants. It is possible that for one pension fund we conclude that a transition to the Wtp scheme is in the interests of participants. While the conclusion for another pension fund could be that the fund would be better off remaining under the old legislation. The opinion of the board of the pension fund is important.

PFI

The board of the ING pension fund (PFI) believes that, given the high coverage ratio of the fund, it is in the interest of the participants if the pension fund transitions to the new legal framework. They have requested the social partners to submit a request to this end. You can read more information about this on the fund's website, https://nieuwpensioen.pensioenfondsing.nl. The content of the entry request is the subject of negotiations between trade unions, the employers involved and the pension fund.

NCP and DLPF

The future of the fund is also being discussed with the boards of the other pension funds (NN CDC pension fund and Deltalloyd pension fund). The pension funds inform their participants about this via their websites, https://nn.cdcpensioen.nl/nieuw-pensioenstelsel en https://www.deltalloydpensioenfonds.nl/nieuwe-richting.

If you have any questions regarding this message, you can email the advocate Inge de Vries at Inge.de.vries@unie.nl.

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