Vitality towards and during retirement

July 2023

As of July 1, 2023, the Future Pensions Act took effect in the Netherlands.

In the 2023 Q1 edition of IGP Network News, we provided an overview of what the new pension law entails, what you need to know as an employer, and how a.s.r., the IGP Network Partner in the Netherlands, can assist you.

The new pension system is a great opportunity to invest in the vitality of your employees - to keep them financially, mentally, and physically healthy on their way to retirement.

Due to the increasing retirement age, many people must work longer and investing in additional vitality is therefore important.  A healthier workforce is also important for your company because employees who are healthy, comfortable, feel good about themselves and enjoy their work, are less likely to retire early.

Retirement is different for everyone. One employee wants to continue working while another can't wait to retire. But all employees want to enjoy a well-deserved retirement, and they need more than just the built-up pension pot. Their financial, mental, and physical health are just as important.

With the arrival of the new pension system, this is a good time to take a broader look at pensions in the Netherlands and the benefits package that you offer.

An increasing number of employees are rightly asking themselves: how can I enjoy my cycling vacation, grandchildren, or hobby when I retire, if I don't stay healthy? Reaching retirement age vitally is important to many employees, and as an employer, you can help. How? By giving vitality a prominent place in the total benefits package. As an employer, you take responsibility for the pension pot, while also making an impactful contribution to the financial, mental, and physical health of your employees.

You can for example offer financial insight, training, or a vitality program, but you can also talk to your employees about their personal options within their pension plan.

a.s.r.’s research (Pensioenonderzoek a.s.r. 2022) shows that for 38% of employees "staying healthy" is the most important way to deal with retirement. Since the new pension system requires you to start working on your pension plan anyway, this is a good time to include Vitality.

a.s.r.’s research also shows that employers can stimulate the vitality of their employees with various (additional) perks. Employees mainly noted their preferred requirement as follows:

• Leave options (38%)
• Vitality programs (20%)
• Training and development budget (15%)
• Coaching (15%)

The new pension system offers fiscal opportunities to better meet the needs of employees. Healthy employees provide you with many benefits and more employees reach their (increasing) retirement age in a healthy way. A win-win situation!

The new pension system will help you take a broader look at retirement and benefits packages and what it means for your pension plan.

Learn more at: https://www.asr.nl/zakelijk/inkomen-en-pensioen/vitaal-naar-en-met-pensioen

Vitality is an important theme today. a.s.r. investigated whether people today are more concerned about their retirement, who they think is responsible for it and what they are doing to become more mentally, physically, and financially fit at and during retirement.

Learn more at: https://www.asr.nl/zakelijk/inkomen-en-pensioen/pensioenonderzoek-2022