Pension on payslips

May1, 2024

The Future Pensions Act (WTP) stipulates that employers must provide information about pensions on payslips. However, this aspect of the WTP has not yet come into effect, and a recent Chamber Letter indicates that it won’t change for the time being. 

The WTP states that an employer must indicate on the payslip whether the employee is accruing old-age pension or not. This measure was not set to come into effect immediately on July 1, 2023 – the date when many other rules from the WTP came into force – but at a later time. Minister Schouten of Poverty Policy, Participation, and Pensions provided an update on pension notification on payslips in a Chamber Letter regarding the reduction of the number of employees without pension accrual. She states that it has become clear that a technical adjustment of the corresponding legal article is needed for the feasibility of the rule. Therefore, a new legislative change is currently being prepared, which means the rule won’t be implemented for the time being. 

Deduction of pension premium is on the payslip The obligation to provide clarity about old-age pension on the payslip aims to make employees more aware of their pension and to encourage them to discuss it with their employer if they are not accruing pension. The government and social partners aim to significantly reduce the number of people without pension, so that more people can maintain their income level to a large extent after retirement

Employers should note that they are currently required to indicate the deduction of the pension premium on the payslip. Deductions from wages are among the points that the Dutch Tax Office want to see on the payslip.