Future Pensionfund Staples

The Staples Pension Fund is what is known as a closed fund. No new employees have been registered by the employer with the fund since 1 January 2015, and with effect from 1 July 2018 all scheme members will accrue pension in a defined contribution scheme with a different pension provider. The pension accrued until 1 July 2018 will remain with the pension fund.

Future of pension fund in new system

The future of our pension fund is one of the most important issues we have to deal with. As in previous years, special attention was devoted to the future of our pension fund in 2022 and developments were monitored closely. The new Future of Pensions Act (Wet toekomst pensioenen, or Wtp) was approved by the House of Representatives and the Senate on 22 December 2022 and 30 May 2023 respectively. After many years of social and political debate, this Act establishes the statutory frameworks for the much discussed new pension system. Whether the Act will affect your pension with the Staples Pension Fund will be the subject of further study by the pension fund board. Since 1 July 2018, the Staples Pension Fund has been a closed fund into which no further contributions for continued accrual of pension are paid and in which the employer has not played any active role since the end of 2021. We were therefore under the impression that there was no possibility for conversion of pensions accrued in the past into a new pension scheme (known as ‘invaren’ in Dutch). It now appears that this possibility has not been excluded after all. 

The board is therefore studying all the alternatives, now it has become clearer what can and cannot be done under the new Act. The main consideration for the board in making these decisions will be what is best for the participants in the fund. 

We also consider the vulnerability of our fund, on the basis of the rules set by De Nederlandsche Bank in this respect. Currently, the Board’s view is that independent continuation of our pension fund is the best option. 

What does this mean for your pension at the moment?

At the moment, nothing has changed in the pension scheme. Your pension and pension benefits will continue under the current pension scheme. Any new pension scheme will have to be implemented by 1 January 2028. This is the deadline set by Minister Schouten. We will of course keep you informed of developments. For further information on the new pension rules, go to www.onsnieuwepensioen.nl.