On May 7, NLD RJ consulted on Wtp (NLD) changes to guideline 271.
NLD RJ issued statement on amendments to Guideline 271 Employee benefits, in response to consequences of the Future of pensions act (Wtp (NLD)).
Amendments
In response to Wtp (NLD), which came into effect on Jul. 1, 2023, NLD RJ proposed amendments to paragraph 3 Pensions of Chapter 271 Employee benefits.
Wtp (NLD) amends the Pension Act; since Jul. 1, 2023, it is no longer permitted to enter into new pension schemes that do not comply with the Wtp (NLD).
During transition period until Jan. 1, 2028, companies can adapt existing pension schemes under Pension act applicable until Jul. 1, 2023, to requirements of Wtp (NLD).
NLD RJ will continue to monitor further developments regarding pensions legislation.
Effectiveness
Comment period closes on Jun. 3, 2024.
Aug. 2024 Final Amended Wordings
On Aug. 29, 2024, NLD RJ published the RJ Statement 2024-18: Final adjustments to Guideline 271 'Employee benefits' in response to the Future Pensions Act, on changes.
Following the WTP, which came in effect Jul. 1, 2023, and the changes in Pensions Act (PW), NLD RJ made changes in para. 3 Pensions of Guideline 271, Employee benefits.
The NLD RJ Statement relates to legal entities that have made pension commitments.
The changes are all set out within the text as a track changes version of the final text.
The changes are all effective for reporting years beginning on or after Jan. 1, 2025.
