In 2020, employers and employees made agreements with the government about the future of pensions. This is laid down in the Pension Agreement. But why are new agreements needed? And what does this actually mean for you?
Importance of new appointments
Each month you and your employer pay a premium for accruing pension. When today’s retirees started saving, the life expectancy was 75 years. But people are getting older. This means that older people now enjoy their retirement longer and that more pension has to be paid out than expected.
In addition, the pension system no longer fits with the current labor market. This is how it usually works in the pension system. Young and older employees pay the same contributions and accrue the same amount of pension. Young people’s premiums can be invested for a longer time and therefore yield more. This system works well if everyone works their whole life for the same employer. But more often people change jobs, sometimes stop working or work less for a while, and then go back to work somewhere employed or start their own business.
The pension system does not work well with many changes during people’s careers and offers little room for personal choices. That is why we are now working on a new pension system! So that we also have a well-functioning pension in the future.
What does this mean for me?
For now, nothing changes. Your pension scheme with the HPF continues as usual. We will switch to a new pension scheme between the 1st of January 2023 and the 1st of January 2027. We are of course looking for the possibilities together with the employer and the trade unions. We will keep you informed.