Pension administration
The Netherlands has proven that it manages pension administration in an excellent, reliable and efficient manner.
The Netherlands has one of the most developed pension schemes. At present, there are administrative solutions for any given regulation, from collective schemes to purely individual schemes.
The Netherlands has one of the most developed pension schemes worldwide. Several factors have been of vital importance to obtaining and maintaining this position. In addition to a favourable tax climate, good collective bargaining agreements and excellent asset management, it is also important that these matters are processed by the administrative systems in a professional and reliable manner.
Since the beginning of the 1950s, the Netherlands has been gaining experience of all existing pension administration systems. At present, there are administrative solutions for any given regulation, from collective schemes administering over one million participants to purely individual schemes, including entirely or partly collective elements with individual accrual.
Effective management is vital in ensuring that the correct pension rights are paid on the correct date on the one hand, and on the other that the commitments are extracted from these systems to determine the correct asset mix. The better this process is executed, the easier it becomes to control the asset management risks.
Reports to the different supervisory institutions are also generated by the administrative rights and payment systems. The Dutch supervision is intensive and sets high requirements for the quality of the administrative management.
The quality (accuracy, timeliness) of the administration becomes increasingly important and even legally anchored in the context of adequate pension communication. In this context, it is pleasing to report that the Dutch market already has an international focus, without any language barriers. Dutch administrators are in almost all cases connected to pension fund websites by means of related pension planners.
Although The Netherlands rely on an excellent track record in the area of pension administration, much effort is invested in optimising company processes and administrative systems. Particularly in the area of pension communication, The Netherlands constantly strive to improve our services.
The Dutch pension administrators have the responsibility to manage billions of euros (750 billion) of participants in pension schemes; this is only possible with excellent, reliable systems and, of course, professional staff.