Your pension is moving to a general pension fund (APF)

In May 2023, we became a fully closed pension fund, which means you no longer build up pension in this fund. Neither you nor your employer pay us any contributions any more. The fund's invested assets currently total around € 950 million, and that amount will not grow through income from contributions. Our pension fund is too small to continue on its own. This opinion is shared by NN as well as the pension fund's board.

A well managed pension
Keeping your pension well managed for many years to come is a large responsibility, particularly in light of the growing number of rules we need to comply with. On top of that, a new pension system is being implemented.

That's why we intend to transfer your pension elsewhere
We believe the best solution is to transfer our pension assets to a general pension fund (APF). This would include your pension. Other solutions are less interesting for various reasons.

Individual APF group
An APF is a pension fund that administers one or more pension plans. As a pension fund, you can opt for either a shared or an individual group within an APF. In a shared group, the pension fund shares its assets and risks with other funds. We want to opt for an individual group, as this would separate our pension assets from the others. Having an individual group means we can exert more influence on your pension.

Our assets will first move to an individual APF group
We will probably be transferring the pension fund's assets to an individual APF group in 2025 already. To facilitate the transfer, we will make use of the knowledge and experience available within the APF. The size of the APF means it offers economies of scale that we would never be able to achieve as a small independent pension fund. If you are receiving pension benefits already, you will continue to receive your benefits on time, just like you do at present. We will continue to be available to answer any questions you may have about your pension, whether you're employed by NN or by a new employer. 

After that, your pension group will implement the new pension rules
The new rules for pensions in the Netherlands are to be implemented by 2028 at the latest. NN and the trade unions (together: the social partners) will first agree on the terms of the new pension plan, which will be laid down in a transition plan. Then, the APF will implement the new pension rules to your new pension group.