In over 80 per cent of Dutch companies, the pension scheme offered is a compulsory scheme. These are generally referred to as sectoral pension funds, which cover over 50 different branches of industry. Unfortunately, some employers operate their pension scheme unaware of the fact that they should have affiliated it with a mandatory sectoral pension fund. A costly mistake.
Overlap within sectoral pension funds
Determining the correct sectoral pension fund can be highly intricate if only some of your activities are covered under a certain sectoral pension fund and the remainder aren’t. The subdivision into the various mandatory pension funds was established around the middle of the previous century. Despite regular adjustments – another complicating factor for employers – these changes certainly do not keep pace with developments in our modern society. All this can give rise to highly complex questions. Consider Uber as an example. Would they qualify as a taxi firm or an internet business?
Screening for compliance with sectoral pension funds
Within a period of ten years, it is perfectly possible for a business to change completely whilst it maintains its old pension scheme. More often than not, this is in contravention of Dutch law. We are able to verify that your company still complies with all pension legislation by means of screening for compliance with sectoral pension funds. By commissioning a preventative screening in the event of changes to your field of activity or within your branch, you could prevent major financial implications.
Safe and accurate
Legislation is complex and changes continually. Despite this, each and every one of us is expected to know and comply with the law. So it is reassuring to know that our lawyers are familiar with even the smallest of details. We are aware exactly which aspects to check for during the screening and which requirements a pension scheme must meet. Thanks to our knowledge and experience, a speedy and accurate execution is guaranteed, irrespective of the circumstances.
Compliancy is not in our nature and we will get to the bottom of every issue. This is how we can best serve our clients at this moment in time and ensure they will want to call on our experience again in the event of future changes.