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Written by:
Bas Hollenberg


Lower House of Dutch Parliament passes amended pension adjustment bill

The Lower House of the Dutch Parliament recently passed the revised legislative proposal providing for adjust­ment of the tax facilitation of pensions. Certain amendments having been tabled in the context of the legislative proposal being discussed – in relation to the discontinuation of the “box 3” net annu­ity facility, the “box 1” involvement of the value of a net annuity claim in the event of commuta­tion and the prohibition of medical examination in a net annuity context – ended up being dismissed or repealed.

The State Secretary for Finance has asked the Upper House that the latter should promptly discuss the legislative proposal. A request had been made by the Lower House to bolt on net annuities to the “second pillar” of retirement provisions. This “second pillar” deals with pension benefit schemes in an employer-employee context. The Dutch Cabinet has promised before April second to come up with an answer to the question as to how all of this should be organised, on which occasion it will also go into detail on the sanction to be imposed on net annuity commuta­tion.

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