At the end of 2022, the House of Representatives (Tweede Kamer) approved the Future Pensions Act. This includes the abolition of the waiting period for pension accrual. This means that every employee, including temporary workers and seconded workers, will accrue pension immediately from the first working day. The current waiting period of eight weeks worked at the Stichting Pensioenfonds voor Personeelsdiensten (StiPP) will thus lapse.
Upper House approval
This amendment is subject to change. The Act has yet to be approved by the Senate (Eerste Kamer). Will they agree? Then the amendment is expected to take effect on 1 July 2023. We will keep you informed about this.
What does this mean for you as an employer?
A few key issues at a glance:
- All temporary workers and seconded workers aged 21 or over will be immediately registered with StiPP when they enter employment. Your employee builds up pension immediately and you start paying pension contributions immediately.
- Arrange in time for the adjustment in the salary system.
- Employees who have worked less than eight weeks for one temporary employment agency on 1 July will start accruing pension in the Basic Scheme from 1 July 2023.
- For employees already participating in the Basic Scheme of StiPP, nothing changes.
- A new employee enters the Plus Scheme after participating in the Basic Scheme for 52 worked weeks.
What does this mean for your employee?
- The employee immediately starts accruing pension in the Basic Scheme from their first day of work.
If you would like more information about the expiry of the waiting period, please contact us. For our clients, we at AAme are already hard at work preparing the announced change.