Tens of thousands of employees in the Netherlands risk missing out on pension compensation for one truly frustrating reason: they changed jobs at the wrong time during the country’s massive pension overhaul.
The Netherlands is halfway through the process of switching its pension system to a new one, under the Wet toekomst pensioenen (Future Pensions Act).
The new system is intended to be fairer, and move away from the old cycle of younger workers subsiding their older colleagues’ pensions.
Wait, how does that work?
Under the old system (the doorsneesystematiek), younger employees paid relatively more into the collective pot than their older colleagues, effectively subsiding their colleagues’ pensions.
This would come around the longer they stayed with a company; within a few decades, they’d be the ones getting their pensions subsidised. Now, this system is being scrapped.
According to EenVandaag, more than half of Dutch workers are already in a pension fund that has moved to the new system, with the rest due to follow by January 1, 2028.
Who loses out (and why)?
The change primarily affects employees between the ages of 40 and 60, who’ve shelled out pension contributions for years, but will no longer benefit from their younger colleagues’ contributions in the collective pot.
To soften the blow for people who may potentially lose out, pension funds are handing out extra compensation to this group.
READ MORE | You should be supplementing your Dutch pension: here’s why (and how to do it)
However, you can only receive this compensation if you’re an active member of the fund at the moment the pension system switches over.
If you’ve changed employers, gone freelance, or been made redundant, you could likely miss the payout entirely.
In a letter to parliament, Minister of Social Affairs Eelco Vijlbrief estimated that several tens of thousands of people could switch to a new job and pension provider without the necessary compensation this year.
How much money are we talking?
Potentially a LOT. Depending on your age, salary, and pension fund, your compensation could easily run into tens of thousands of euros.
Dutch financial watchdog AFM has floated a rough example of how this might play out:
“Lisa is fifty and has worked at the same company since she was thirty. Her pension fund has informed her that she will transition on January 1, 2026, and expects Lisa to receive compensation of 50% of her pensionable salary. This will result in compensation of €21,763, or an expected €168 per month from the age of 68.”
READ MORE | The ultimate guide to pensions in the Netherlands in 2026
And these hypotheticals are already playing out in real life, with EenVandaag reporting that hundreds of employees who were laid off at ING are now “missing out on thousands to tens of thousands of euros in pension funds as a result.”
In May alone, AFM stressed the importance of employers and insurers properly informing pension recipients of the changes, including providing them with “realistic expectations of their future pension so that they can take measures themselves if necessary (e.g., making additional contributions).”
What can you actually do about it?
If you’re planning to switch jobs, it’s worth checking which pension fund your current and future employers use, and whether they’ve made the switch to the current system.
Vijlbrief also points out that voluntary continuation of pension build-up, known as vrijwillige voortzetting, is possible for around 93% of active members, based on 2025 fund data filed with regulator DNB.
Because it often applies retroactively from the day you leave, people who only realise later that they’ve missed out can sometimes still qualify for the extra compensation.
Some employers, including ABN AMRO and Philips have built arrangements like this into their plans, while KPN offers a contribution towards it.
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