We recently published our regulatory roadmap for insurance and pensions, where amongst other regulations, we addressed the Wet toekomst pensioenen (Wtp). Yesterday, the news has come out that pension providers are granted additional time to transition to the new pension system. 
 
Due to growing concerns among both pension funds and parties in the Senate, the new transition deadline has been set to the 1st of January 2028. Last Monday, several parties expressed their fears that the implementation of the new pension system could end poorly due to the tight deadline. ICT problems, staff shortages and administrative pressure could lead to problems at the pension providers. Minister Carola Schouten will remove the exact year from the law so that it can easily be amended if necessary. The deadline will for now be set at January 2028, but could be changed in the meantime.  
 
We foresee that existing running programs may take this opportunity to slow down the pace of implementation, which would not be advisable. As resource allocation remains a challenge, it is essential that pension providers ensure and optimize their capacity to effectively execute this large program. The new deadline is there to grant providers the time to set up a structured and high-quality programme to meet this complex transition. 
 
A crucial vote on the act is scheduled for Tuesday, May 30, which will determine the fate of the Wet toekomst pensioenen. If the act passes, it will mark the conclusion of years of debate.