The Social Affairs and Employment Committee (SZW) will organize an expert meeting on Tuesday, March 18, about the Legislation for Lump Sum Revision. The meeting will focus on the feasibility and consequences of this legislation, with specific attention to pension participants, especially those using allowances, in debt, or with low literacy. Additionally, pension funds and administrators responsible for communicating with participants will be discussed.
Experts will address questions about communication regarding the law (is the information easily accessible to every pension participant, regardless of education or literacy level?), about a tool as a decision aid in considering whether to opt for a lump sum payment, and about the timely readiness of such a tool. This requires data from the Tax Authorities and the pension administrator, among others.
Furthermore, members of parliament have questions about whether pension funds and administrators are sufficiently equipped to provide high-quality choice guidance, enabling participants to make a personally appropriate choice. How do pension funds and administrators view the combination of communicative and technological efforts needed for the introduction of the lump sum? Attention is also paid to the preparation for the transition to the Future Pensions Act. How do supervisors plan to fulfill their role in the introduction of the lump sum? Do they have any preliminary advice or warnings for administrators and politicians?
Experts
The following experts have agreed to participate:
- Anne de Groot, Head of Insurance and Pensions at the Netherlands Authority for the Financial Markets (AFM);
- Arjan Vliegenthart, Director of the National Institute for Budget Information (Nibud);
- Wim Hoek, Director of the Pension Fund for Work and (Re)Integration (PWRI);
- Joanne Kellermann, Chair of the Pension Fund for Care and Welfare (PFZW);
- Erik Schouten, Chair of the Tax Authorities/Central Contact Point for Pensions (CAP).
Each expert will provide a brief introduction, followed by an opportunity for parliament members to ask questions and engage in discussions. Experts are requested to submit a position paper outlining the issues surrounding this law. The expert meeting will be chaired by Senator Mei Li Vos (PvdA), Chair of the SZW committee.
Practical Information
The meeting will take place from 7:30 PM to 9:00 PM. You can attend the expert meeting or follow it via the livestream. More information about these options can be found here.