De Nederlandsche Bank has published an update on the Dutch pension sector's move to the new pension system, showing that 30 pension funds had transferred accrued rights by 31 March 2026 and that EUR 542bn of assets had moved to transitioned funds. For pension funds still under FTK, the sector funding ratio fell to 124.7% in the first quarter of 2026, down 4.4 percentage points from the previous quarter, mainly because of negative equity market developments. Total invested assets across all pension funds stood at EUR 1,624bn, with EUR 1,082bn still held by non-transitioned FTK funds and EUR 542bn by funds that had transitioned to WTP arrangements. The policy funding ratio for FTK funds rose to 125.0% from 122.9%, reflecting its 12-month averaging method. DNB noted that changes in the composition of the FTK group had a negligible effect on the sector figures because the funds that transitioned on 1 January 2026 had broadly the same funding ratio as those that did not. Pension funds can continue transferring accrued rights until 1 January 2028. For funds operating under WTP arrangements, DNB noted that their financial position cannot be captured by a single measure equivalent to the FTK funding ratio because the system is based on individual asset pots, and that more experience and data are needed to determine the most informative indicators.
De Nederlandsche Bank 2026-04-28
De Nederlandsche Bank reports 30 pension funds have transitioned to the new system while the FTK funding ratio fell to 124.7% in the first quarter of 2026
De Nederlandsche Bank reported that by 31 March 2026, 30 pension funds had transferred accrued rights to the new pension system, with EUR 542bn of assets moved, while total pension assets stood at EUR 1,624bn. For funds still under the Financial Assessment Framework, the sector funding ratio fell to 124.7% in the first quarter of 2026 due to negative equity markets, although the policy funding ratio rose to 125.0%. De Nederlandsche Bank added that the financial position of funds under the Future of Pensions Act cannot yet be summarised in a single indicator comparable to the FTK funding ratio.