Olaf Boschman

Withdrawal of a lump sum of up to 10% of one’s pension pot upon retirement in the Netherlands will not be possible until 2029, according to the Dutch government’s Spring Budget. This means its introduction will be postponed until after the transition to a pension system based on defined contribution (DC) arrangements. It is the eighth time that the entry into force of the lump sum has been postponed.

Making the self-employed save 20% of their gross income for pensions is “proportional”, according to the Dutch pension federation. The organisation has given the government positive advice about making this obligatory. Others, such as the Circle of Pension Specialists (KPS), have different views. Earlier this year, four political parties (VVD, D66, CDA and SGP) proposed a new law making it mandatory for the self-employed to save for their pensions.

Booking.com has reached a settlement with Dutch multi-sector pension fund PGB, with the pension fund agreeing to let go of its requirement for Booking.com to join the fund in exchange for an undisclosed compensation fee.