Industry Pension Fund in Den Haag
An industry pension fund (BPF) manages pension accrual for employees and employers in a specific sector in the Netherlands, including Den Haag. This collective system ensures a standard pension scheme, often mandatory under a collective labour agreement. In Den Haag, with its emphasis on government and construction, it plays a major role. This article covers BPFs, the relevant legislation, and your rights as a participant in Den Haag.
What does a BPF mean for Den Haag?
A BPF is an independent foundation that arranges pensions for an entire industry, such as construction projects around the Den Haag skyline, metalworking, or government services. Unlike a personal pension policy, you build up your pension collectively through contributions from both employer and employee. The fund invests the premiums and pays out benefits later.
Key features:
- Sector-wide: Uniform across all companies in the sector.
- Mandatory: Usually imposed on Den Haag employers via collective labour agreements.
- Joint governance: Managed by employer and employee representatives.
Examples: Bpf Bouw for Den Haag construction firms, bpfMT for metals & technology, and ABP for many government employees in Den Haag.
Legal framework for BPFs
BPF rules are set out in the Pension Act 2007 (PA). Key provisions:
- Art. 1(1) PA: BPFs for enterprises in one industry.
- Art. 17-24 PA: Establishment and fund rules.
- Art. 66 PA: Mandatory participation via general binding order of a collective labour agreement by the Minister of SZW.
Supervision: DNB oversees finances, AFM communication. Violations lead to fines or administration orders. Den Haag participants can bring disputes to the District Court of Den Haag.
BPF compared to other funds
Three types of pension funds in the Netherlands:
| Type | Application | Participation | Management |
|---|---|---|---|
| Industry Pension Fund (BPF) | Entire sector, incl. Den Haag | Often mandatory via general binding order | Social partners |
| Company Pension Fund (CPF) | Single company | Voluntary/collective agreement | Company & staff |
| Pension Insurance (PI) | Individual/small company | Voluntary | Insurer |
BPFs provide sector-wide risk coverage, ideal for stability in Den Haag's fluctuating economy.
Examples from Den Haag
As a carpenter at a local construction firm under the Construction & Infrastructure General Binding Order, your employer pays premiums to Bpf Bouw. In 2023, around 25% of salary, with employer covering 60%. More on employer contributions.
Or as a government employee: Through ABP, your accrual remains secure, even during reorganisations at the Municipality of Den Haag.
Rights and obligations as a Den Haag participant
Rights
- Statements: Annually via mijnpensioenoverzicht.nl.
- Access to regulations: Request and object (Art. 62 PA).
- Survivors: Partner pension protected.
- Portability: Transfers with job changes within the sector.
Obligations
- Salary deduction for premiums.
- Update personal details.
- Provide accurate information for payouts.
Employers must pay premiums (Art. 68 PA). Non-payment allows claims via the District Court of Den Haag.
Frequently asked questions
Mandatory BPF participation in Den Haag?
Yes, if under a general binding order collective agreement. Check your collective agreement or Rijksoverheid.nl. Otherwise, via collective agreement.
Employer not paying premiums?
DNB fines apply; you can summon them via the District Court of Den Haag. The fund covers risks.
How to check pension?
Via mijnpensioenoverzicht.nl with DigiD, plus annual UPO.
Impact of 2023 Pension Agreement?
BPFs adapting to new system; rights protected (Future Pensions Act).
Tips for Den Haag employees
Maximize your BPF:
- Check UPO against payslip.
- Extra savings: Alongside state pension with annuity.
- Stay in sector for continuity.
- Need help?: Visit Juridisch Loket Den Haag for free advice.
Related: Employer contributions, Collective agreement rights, Pension Act.
BPFs promote solidarity in Den Haag industries.
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