The court in Rotterdam ruled today that the transition to a new pension system can proceed without delay. A retired maritime pilot had filed a lawsuit against his pension fund, BPF Loodsen.
Starting January 1, the pilots’ fund will be one of the first to switch to the new system. In late November, pilots received letters detailing the expected impact on their pensions.
The 84-year-old plaintiff considered the timing tight and requested a two-month delay. The new pension system, affecting about 3.9 million retirees and over six million pension fund participants with €1,600 billion in assets, represents a significant overhaul.
The main change is that pensions will more closely follow stock market fluctuations. The judge acknowledged the short deliberation period but deemed it insufficient to delay the transition.
The Terschelling pilot’s pension is set to increase by 8% in January, negating the need for expense adjustments. The court recognized the short time frame for checking fund projections but stated recalculations could occur post-transition since pensions will be finalized in a few months.
BPF Loodsen welcomed the decision, likening it to receiving positive exam results. The fund faced broader implications than a single participant’s pension; losing could have led to widespread delays and associated costs.
The retired pilot expressed disappointment, stating he had fought against perceived injustice for himself and supporting former pilots, but acknowledged the court’s decision in favor of the fund.
Source: NOS