The future of our pension system

The Cabinet, the employers' organizations and the national trade unions have recently fleshed out the pension agreement. As a result, it is gradually becoming clearer what the future pension system will look like - and what it will mean for you and for the pension fund. These are the facts in a row, but there are still considerable uncertainties. Unfortunately, it is therefore still difficult to say exactly what the consequences will be for your pension.

• The central element of the pension agreement is that pension benefits will move more in line with economic developments and will therefore become less certain. If the returns are high enough, pensions can be increased sooner. But if the economy is in decline, they will also go down sooner.
• Since 1 July 2018, the Staples Pension Fund has been a closed pension fund in which no more contributions are paid for further pension accrual. Closed funds are faced with the choice of whether to convert pensions accrued in the past to the new pension scheme (so-called "inward investment").
• Converting to a new pension contract means that your pension will move more in line with economic developments. Not converting means that the current situation will continue, with uncertainty about indexation and the risk of reductions.
• The conditions for this conversion are still being worked on, so it is not yet clear which option will work out best. In making its choice, the pension fund's board of trustees is focused on what is most beneficial for the fund's participants.
• It is already known that the state pension age has been rising less quickly than previously agreed since 2019. For many members of our pension fund, this means that they will receive their AOW earlier than expected.

When will the new agreements take effect?

It is not yet clear when the new legislation will take effect. The aim is 1 January 2022. After that, the labor consultations, the pension funds and the implementing organizations (including Blue Sky Group) will have time to translate the new agreements into their own pension plans and to prepare the implementation of these plans.

Once again: there is still no clarity on many points. We are therefore following the developments closely.