Pension funds
Successful Wtp transition and steering under the Wtp
Pension funds must transition to the new pension system no later than 1 January 2028. The 'Wet Toekomst Pensioen' (Wtp) has a significant impact on the Dutch pension landscape. Almost all organisations will need to adjust their pension scheme and administration systems. Pension funds will be faced with new schemes agreed by social partners and, in many cases, (partial) outsourcing of services. We support your organisation in managing a controlled transition and in designing and operating a future-proof fund under the Wtp.
- Wtp transition support
- Steering under the Wtp in good order
Wtp transition support
For the transition to the Wtp, the pension fund must, among other things, draw up transition and implementation plans and a DNB ‘invaren’ template. The board must assess and substantiate the balance and fairness of the transition. The board then takes the ‘invaren’ decision and accepts and confirms the mandate from the social partners. This takes place after advice from the key function holders and accountability body, and after approval by the supervisory board.
PwC supports your organisation throughout the Wtp transition. Together, we prepare complete and high-quality statutory transition and implementation plans and a DNB ‘invaren’ template, including supporting files and appendices. Where necessary, we also provide:
- Support with strategic reorientation, focusing on the future implementation of the scheme – for example strategic frameworks, consolidation, outsourcing selection and governance design.
- Effective recalibration of the project structure and governance, and support with their operation.
- A realistic (backward) planning.
- Progress reports, broken down by stakeholder group where needed.
- A roadmap for moving from transition to the new ‘business as usual’.
- Embedding our work within the systems and processes of outsourcing partners.
Steering under the Wtp in good order
In the run-up to the transition to the new pension scheme before 1 January 2028, it is vital that the pension fund’s governance and steering under the Wtp are in good order. We help you explore what is changing compared with steering under the FTK and how you should prepare for the post‑transition situation. In doing so, we look both at governance as a whole and at operational execution. We support you in designing a future-proof set-up, including changes to:
- Steering tools and management information for the board.
- Service delivery (particularly monitoring of outsourced activities) and recalibration of SLAs, KPIs and/or KRIs for administration, communication, asset management or other services.
- Governance, monitoring, roles and responsibilities of fund bodies, key functions and outsourcing partners.
- Operational execution, from primary value chains through to work instructions.
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