Agreement: no hard and fast promises and more, and out of the way to the u.s.

for The government, the employers and the trade unions have been in the past, and agree on further details of the new pension system, but it is not open to the public. What do we do, what will change and when will we know more? In this paper, we discuss a few general questions, as well as a few lezersvragen that NUjij weeks.

What do we have now?

The agreement reached last week is a follow-on to the main points for June 2019 is not known. The details have not yet been officially announced, but the majority of trade unions in the negotiation were agreed to. Their members also have to agree with the plan. CNV members have to do that before this week, UNION members will vote on Friday.

as of This Friday is also the council of ministers together for consultations, and it is expected that the prime minister Wouter Bird, of Social Affairs and Employment, the agreement is then sent to the Second Chamber to be presented. There is still discussion then perhaps the substantive changes can be made.

See also: CNV approves agreement: 'Pechgeneraties to avoid:" What are the major differences from the current system?

At this point, there is a system in which you accrue pension on the amount of which is pre-determined. This is about to change in a forecast, and in-between to change. Also, as a retired person, you would each year be a different amount that can be given, depending on the performance of the funds. This can sometimes be lower, but sometimes higher up the extraction process.

This is due to the removal of the notional interest rate. The discount rate to calculate pension funds, whether they are sufficiently "in order" to deliver the promised benefits to come. If they are exactly right in order to have the so-called funding ratio of 100 percent of the time. If the funding ratio is below a certain number, will, to the funds of the pension cutback. Index may, in addition, even when the funding ratio is below a certain percentage it comes.

“The discussion will be about what you think of the pension money will disappear.”

Marike Knoef, associate professor, University of Leiden

"in The u.s., it is a kind of verdeelknop between the old and the young," explains Marike Knoef, professor of economics at the University of Leiden, of. "Over the past few years has been in a lot of funds and non-index-linked, which makes older people mad were the same. But the young people were happy, they were just afraid that there will be nothing left for them in their pension pot could be. This issue will be on the new system. The discussion is about what you think of the pension money will disappear."

The so-called "doorsneesystematiek" it is also to be abolished. "At this moment in time you pay if the young person is to a lot of premium to get the rights back, and while you're at an age, too little pay", says Knoef.

"in the Past, this was only logical: when did you have your whole career with the same employer, but now the decisions are human beings at the age of 45 self-employed-to-be. You have so many years more to pay, you will get it, because you don't have an advantage at a later age. If it disappears, reconnect the system to the current flexibility in the labour market."

An important conclusion is that the changes it makes to the pension is uncertain. What does that mean, specifically?

Knoef: "What we have to do now is for the pensions of everyone else in the same extent of shortening, for example, 2 percent of the time. I have a retired relative, this is because of the 2% of what you're in retirement, have built up a lot more than if you were at the start of your pension is there."

the new system changed the risk-sharing arrangement: in the elderly, it is subject to something a little less, for the young, there is a little more movement. The risk-sharing is better, it is Knoef. "When you're younger, you have more flexibility while you're in retirement, you will not say," I'm going back to work."

That people are scared of the uncertainty, it is only logical and emotional reasons to believe the professor. "People want to have a solid retirement. Is a very small chance that something will go wrong, it will, in the minds of the people is much greater. If we win, we're a little bit excited, but if we lose it, we find that it is very, very bad. That remains to be better."

“People with heavy work will be for up to three years of early retirement.”

Marike Knoef, professor, University of Leiden, Heavy work will be to retire early, but what does that mean?

At this point, there is a penalty on early retirement. "That's going to change is for people with low incomes", says Knoef. "It will be up to three years before the state pension age by the pension, without the employers, there is a penalty fee for having to pay for it."

The professor thinks it's a good plan, because the definition of a heavy job would be difficult. "The low-income threshold is valid mainly for the people with greater appeal." It is now, sector by sector, looking at what the criteria for early retirement, such as the number of years worked.

if you are in the process of transition to a new system would be people over 45 years old suffer, and for them, there would be a transition period to come. How can that be? And there is already a scheme to be known?

This, in turn, has to do with the doorsneesystematiek. People will pay for it in the current system, at the start of your pension, and later. "Too late there, now no more, and that is a disadvantage for people over 45, explains:" Knoef out.

However, this age group does not have to be afraid, because there is a solution to be sought. "What, exactly, we don't know yet, and it is also different for each fund. However, from the documents which have come to light it is clear that there is going to be utilized."