What do colleagues think?
As of July 1st 2024, we have been working as one organisation across two locations: Zeist and The Hague. What has the transition been like for our colleagues?
‘Colleagues in Zeist made a real effort to take the time and space to make me and my team feel welcome. Just a simple ‘Great to have you as our colleague’ or ‘Welcome to the team’ goes a long way. That sense of connection is a solid foundation for working well together.’
Evita Pardon, Manager Client Information PMT & Bpf Koopvaardij
‘The transition on July 1st was both a challenge and a real highlight. We successfully integrated the change organisation and the portfolio on time, and working with a multi-client mindset is now part of our daily routine. It shows colleagues in The Hague and Zeist aren’t so different after all. We know how to find each other and work together for our 5.8 million participants, the employers and the funds.’
Jasper Martens, senior manager Business Change & Data Analytics
‘Moving from MN to PGGM in July 2024 has been a really positive experience. From day one, the Business Consultants team in Zeist made me feel part of the team. I’m now part of PGGM’s Works Council as well, where I can put my experience to good use for the organisation. This smooth transition gives me energy and inspiration for the work ahead.’
William Vrasdonk, Business Consultant, Pension Services
‘The transition and the collaboration with colleagues from MN Services have been really positive as well. We’re a great match. The run-up to the transition was constructive too, with both sides focused on what was best for employees and for the participants of PMT and Bpf Koopvaardij. We now work as one organisation with harmonised employment conditions for all former MN Services and PGGM colleagues. For now, we’re still working from two locations, but I don’t think this gets in the way of good collaboration. I’m looking forward to the move to Utrecht, where we’ll all be working under one roof, making it even easier to connect.’
Fransisca Donkersloot, manager HR Services & Advice
‘The transition to PGGM has been a really positive experience for me, and for PMT as well. There are actually a lot of similarities, though sometimes things work a bit differently and that just takes some getting used to. I really hope we achieve all the goals we’ve set and become the best multi-partner pension services provider in the Netherlands!’
Marcel van Lobenstein, accountmanager PMT
At PGGM, a lot of effort is going into preparations for the Future of Pensions Act (Wtp). Marion Beekmans, advisor for product strategy, plays an important role in this process. As the lead of the Participant Expertise Centre, Marion conducts research among PFZW participants. The participant’s perspective is always at the heart of her work. In this video, she shares more about it.
Pension services and advisory
We aim to ensure good pensions for participants, deliver excellent and personalised customer service, and advise our clients on their pension schemes.
FUSE: the transition of MN pension services to PGGM
A milestone in the pension sector
On July 1st 2024, a major milestone was reached: the pension services of MN were transferred to PGGM. With this transition, we have also taken on the administration of the pension schemes for Pensioenfonds Metaal en Techniek (PMT) and Bedrijfspensioenfonds Koopvaardij (Bpf Koopvaardij). Together with 300 former MN colleagues, we now operate from both Zeist and The Hague, serving the pensions of 5.8 million participants.
This important transition is being guided by the integration programme FUSE. We spoke to Robert Voogt, Programme Director of FUSE, about the process behind the scenes, the challenges along the way, and the opportunities it brings for the future.
Robert Voogt,
program director of FUSE
What is FUSE?
FUSE is the programme that supports the continued integration of PGGM Zeist and PGGM The Hague (formerly MN Pension Services) in the years ahead. Its aim is clear: to function as one pension services organization. Not just on paper, but also in terms of culture, processes and collaboration. With attention to people and the organisation, FUSE is guiding this transition.
Future-proof organisation
The collaboration goes beyond a structural merger; it is a way to make PGGM future-proof. Much work remains to be done in the years ahead. Robert explains:
‘Our vision is to become the most outstanding pension services organisation in the Netherlands, for pension funds, participants and employees. To achieve this, we need to operate as one pension services organisation. Not only in name, but also in the way we work. We must align our processes to become more efficient, increase our impact, and serve all our clients even better. This transition also creates economies of scale, which we aim to use to keep costs as low as possible.’
Improved service delivery
One example of more efficient service for clients and employers is the UPA (Uniforme Pensioen Aangifte), the submission of employment data by employers. Robert explains:
‘This approach has now been aligned with PMT as well, something employers will notice immediately. We continue to improve our services in ways that are both visible and invisible to our clients.’
And these improvements go beyond efficiency:
‘They help us innovate more effectively, retain scarce expertise and position ourselves as an attractive employer. Scale enhances our impact and enables us to deliver higher quality for both our people and our clients.’
Pride and challenges
Robert reflects on the first phase of the past year with pride:
'I am incredibly proud of PGGM. Despite the intense preparations for the transition to the new pension scheme under the Future Pensions Act (Wtp), we achieved this collaboration. It is one of the reasons I came on board. I enjoy challenges like these.’
He continues: ‘Preparations for this first phase began in the summer of 2023, and the run-up to July 1st 2024 was tight. It was a high-pressure period with tight deadlines.What impressed me most was seeing around 200 people working at the same time to make sure we could complete the transfer of activities from The Hague on July 1st'
Inspiration and the future
What inspires Robert most is the strength of the people at PGGM:
‘My background is not in the pension sector, but I stepped in with great enthusiasm and conviction. PGGM has so much in-house expertise, and I have seen how much we can achieve as an organisation when we work together. That is truly inspiring. In the years ahead, we will continue to grow and develop as an organisation together. I am convinced this will help us to be and remain the best pension services organisation in the Netherlands.’
Excellent customer service in a time of change
Maintaining and strengthening trust through personal and accessible service
The transition to the new pension system places significant demands not only on us as a pension services organisation, but also on participants, employers and social partners. Now more than ever, they need to be able to rely on clear communication and personal support. We therefore continue to invest in excellent service, tailored to the needs of each target group.
For participants: clarity and accessibility
In 2024, participant satisfaction once again scored well above 8 out of 10. During the recertification of the Gouden Oor quality mark for our services to PFZW participants, we achieved a score of 87.5 out of 100.
Participants value our clear communication, user-friendly online environment and the option to speak to someone personally when needed. We are making pension information more accessible, including for people with limited digital skills or financial stress.
Through digitalisation and data-driven personalisation, we are increasingly able to tailor communication to individual circumstances. In doing so, we help participants gain better insight into their pension, now and in the future.
Satisfaction among participants of PMT and Bpf Koopvaardij increased from 7 to 8.
In 2024, participant satisfaction once again scored well adove an 8 out of 10
For employers: easy and certainty
Employers are also experiencing the benefits of our renewed services. Satisfaction among participants of PMT and Bpf Koopvaardij improved from 7 to 8. Employers benefit from more digital self-service, faster handling of queries and secure login via eHerkenning.
From January 1st2025, PMT employers will submit their pension data entirely automatically via the Uniforme Pensioenaangifte (UPA). This shift will lead to a simpler and more up-to-date process, with less risk of errors.
For social partners: tailored support
Social partners play a key role in the transition to the new system, which is why we provide them with tailored support, for example by helping them inform their members about the new scheme. Working together in this way helps build broad understanding and support. This approach strengthens trust in our services and in the new pension system.
Cost-efficient and future-proof
How do you keep pension services affordable without compromising on quality? At PGGM, we do so by investing smartly in scale, standardisation and digitalisation.
Greater scale, lower costs
The acquisition of MN’s pension services was a major step forward. As a result, we now manage the pensions of 5.8 million participants. This scale allows us to reduce costs while continuing to invest in quality.
A platform built for the future
Our pension administration - the core of our operations - is being made future-proof through the MAP platform. In 2024, more than 200 DevOps engineers worked on the core functionalities needed for the new pension system. We expect to complete the system configuration in 2025.
Working smarter through digitalisation
At the same time, we have largely moved to the Azure Cloud. This makes the system more flexible, scalable and better able to adapt to changes in laws and regulations.
Digitalisation is also embedded in day-to-day operations, for example through automated data exchange via UPA and secure access via eHerkenning. This increases efficiency and reduces the risk of errors.
Step by step, we are building an efficient pension services organisation that evolves with the times and is ready for the future, for millions of participants and tens of thousands of employers.
Behind the scenes at PGGM: implementing the Future Pensions Act
Marc Nuijten, Director of Business Development and Transition
The Future Pensions Act (Wet toekomst pensioenen, Wtp) is the most significant reform in the history of the Dutch pension system. PGGM is taking a leading role in this transition. It is a complex and demanding task, one we are approaching with dedication and confidence. We offer a behind-the-scenes: how are we making sure our clients will have a scheme that truly works? What challenges are we facing, and how are we tackling them?
Starting early
Implementing the Wtp requires more than just adjusting systems. The transition affects client policy, IT processes, communications with participants and the way we work. That is why we started preparing early, always taking into account changing circumstances - from specific client needs to small legislative adjustments.
Countless decisions
The policy development process is a major task. While pension funds regularly revise their schemes, this time everything had to be rethought, which made the decision-making process far more complex. Dozens of interconnected decisions had to be made on a range of new and intricate subjects. Within the financial design alone, there were 34 key policy choices. The challenge was to make these decisions carefully, while staying true to the predefined principles and objectives. The perspective of participants played a crucial role throughout.
To ensure thorough and responsible decision-making, we scheduled ample time for the process. This included exploratory, consultative and decision-making sessions with our clients and their social partners (representatives of both employees and employers).
Close collaboration between Pension Services and Investment Management is essential for successful execution and communication
Final phase: testing and decision-making
We are now entering the phase in which a significant part of the core functionality has been developed. Testing will begin In the second quarter of 2025. Our clients aim to transition to the new pension scheme by 1 January 2026. We are on track and September 2025 will be an important milestone for PGGM and its clients. At that time, we will assess whether we are sufficiently on course to take the final steps, enabling clients to inform their participants in the fourth quarter about their projected pension benefis.
By then, all major financial flows within the system must be fully tested and approved. We are moving forward with confidence.
Implementing the Future Pensions Act requires more than just system changes
Influencing legislation
To ensure the legislation works in practice, for participants and for us as a pension services organization, we have contributed to the political and regulatory process in several ways. For example, we provided input on the guidance for balanced transitions (‘invaren’) and took part in roundtable discussions in the Dutch House of Representatives. We also made substantive contributions through the Federation of the Dutch Pension Funds.
Our involvement continues. We are in ongoing dialogue with policymakers on key issues, aiming to support well-informed decision-making. At the same time, we make sure our policy advisers are up to date on all relevant legislation, so they can guide our clients effectively on their scheme design and financial structure.
From policy to practice
We also started early on the necessary changes to our pension and investment administration. These adjustments are needed because the way in which contributions move through the execution chain towards investment is changing. Whereas the strategic investment mix is currently determined once a year, it will soon be reviewed every month. This shift is the result of the move to personal pension pots and the introduction of age cohorts, with each cohort having its own investment mix based on a specific risk profile. Returns will be allocated to participants on a monthly basis. The entire implementation and communication process requires close collaboration between Pension Services and Investment Management.
As the process progressed, we gained increasing clarity from lawmakers and regulators. We have the flexibility to adjust our processes accordingly and are now working on the final details. Naturally, that flexibility has its limits. At this stage, there is no longer room for major changes. A referendum on the transition, for example, could not only negatively affect participants’ pension outcomes, but would also significantly disrupt preparation and implementation.
Challenges and risks
In the interest of our clients’ participants, this transition should be carried out with care and cost-efficiency. At the same time, the process is new for everyone involved, including regulators. They too are working closely with the sector to support a careful and well-managed implementation. However, coordination with them - particularly with De Nederlandsche Bank (DNB) - requires considerable time and attention from pension funds.
On track for 2026
At PGGM, more than 300 people are working on this transition. It is a major operation, but we are still on schedule to transfer our clients’ participants to the new pension scheme on January 1st 2026. In the coming months, the focus will be on finalising all IT adjustments, testing systems, preparing processes, training staff, supporting decision-making and getting ready to communicate with participants. It remains a complex undertaking, but with the dedication of all our experts, we are well prepared.
Pensions in numbers
Number of participants
In millions
2024
2023
5,8
4,2
Number of employees
In thousands
2024
2023
94
34
Collected premiums
EUR billion
2024
2023
13,2
8,8
Benefits
EUR billion
2024
2023
8,5
5,9
Participants First: preparing for the Future Pensions Act
And these improvements go beyond efficiency:
Robert reflects on the first phase of the past year with pride:
Pensions in numbers
Number of participants
In millions
2024
2023
5,8
4,2
Number of employees
In thousands
2024
2023
94
34
Collected premiums
EUR billion
2024
2023
13,2
8,8
Benefits
EUR billion
2024
2023
8,5
5,9
We also started early on the necessary changes to our pension and investment administration. These adjustments are needed because the way in which contributions move through the execution chain towards investment is changing. Whereas the strategic investment mix is currently determined once a year, it will soon be reviewed every month. This shift is the result of the move to personal pension pots and the introduction of age cohorts, with each cohort having its own investment mix based on a specific risk profile. Returns will be allocated to participants on a monthly basis. The entire implementation and communication process requires close collaboration between Pension Services and Investment Management.
As the process progressed, we gained increasing clarity from lawmakers and regulators. We have the flexibility to adjust our processes accordingly and are now working on the final details. Naturally, that flexibility has its limits. At this stage, there is no longer room for major changes. A referendum on the transition, for example, could not only negatively affect participants’ pension outcomes, but would also significantly disrupt preparation and implementation.
From policy to practice
Influencing legislation
Implementing the Future Pensions Act requires more than just system changes
Countless decisions
The policy development process is a major task. While pension funds regularly revise their schemes, this time everything had to be rethought, which made the decision-making process far more complex. Dozens of interconnected decisions had to be made on a range of new and intricate subjects. Within the financial design alone, there were 34 key policy choices. The challenge was to make these decisions carefully, while staying true to the predefined principles and objectives. The perspective of participants played a crucial role throughout.
To ensure thorough and responsible decision-making, we scheduled ample time for the process. This included exploratory, consultative and decision-making sessions with our clients and their social partners (representatives of both employees and employers).
We are now entering the phase in which a significant part of the core functionality has been developed. Testing will begin In the second quarter of 2025. Our clients aim to transition to the new pension scheme by 1 January 2026. We are on track and September 2025 will be an important milestone for PGGM and its clients. At that time, we will assess whether we are sufficiently on course to take the final steps, enabling clients to inform their participants in the fourth quarter about their projected pension benefis.
By then, all major financial flows within the system must be fully tested and approved. We are moving forward with confidence.
Final phase: testing and decision-making
Close collaboration between Pension Services and Investment Management is essential for successful execution and communication
Implementing the Wtp requires more than just adjusting systems. The transition affects client policy, IT processes, communications with participants and the way we work. That is why we started preparing early, always taking into account changing circumstances - from specific client needs to small legislative adjustments.
Starting early
A platform built for the future
Our pension administration - the core of our operations - is being made future-proof through the MAP platform. In 2024, more than 200 DevOps engineers worked on the core functionalities needed for the new pension system. We expect to complete the system configuration in 2025.
The Future Pensions Act (Wet toekomst pensioenen, Wtp) is the most significant reform in the history of the Dutch pension system. PGGM is taking a leading role in this transition. It is a complex and demanding task, one we are approaching with dedication and confidence. We offer a behind-the-scenes: how are we making sure our clients will have a scheme that truly works? What challenges are we facing, and how are we tackling them?
Marc Nuijten, Director of Business Development and Transition
Behind the scenes at PGGM: implementing the Future Pensions Act
To ensure the legislation works in practice, for participants and for us as a pension services organization, we have contributed to the political and regulatory process in several ways. For example, we provided input on the guidance for balanced transitions (‘invaren’) and took part in roundtable discussions in the Dutch House of Representatives. We also made substantive contributions through the Federation of the Dutch Pension Funds.
Our involvement continues. We are in ongoing dialogue with policymakers on key issues, aiming to support well-informed decision-making. At the same time, we make sure our policy advisers are up to date on all relevant legislation, so they can guide our clients effectively on their scheme design and financial structure.
At PGGM, more than 300 people are working on this transition. It is a major operation, but we are still on schedule to transfer our clients’ participants to the new pension scheme on January 1st 2026. In the coming months, the focus will be on finalising all IT adjustments, testing systems, preparing processes, training staff, supporting decision-making and getting ready to communicate with participants. It remains a complex undertaking, but with the dedication of all our experts, we are well prepared.
On track for 2026
In the interest of our clients’ participants, this transition should be carried out with care and cost-efficiency. At the same time, the process is new for everyone involved, including regulators. They too are working closely with the sector to support a careful and well-managed implementation. However, coordination with them - particularly with De Nederlandsche Bank (DNB) - requires considerable time and attention from pension funds.
Challenges and risks
Greater scale, lower costs
The acquisition of MN’s pension services was a major step forward. As a result, we now manage the pensions of 5.8 million participants. This scale allows us to reduce costs while continuing to invest in quality.
Working smarter through digitalisation
At the same time, we have largely moved to the Azure Cloud. This makes the system more flexible, scalable and better able to adapt to changes in laws and regulations.
Digitalisation is also embedded in day-to-day operations, for example through automated data exchange via UPA and secure access via eHerkenning. This increases efficiency and reduces the risk of errors.
Step by step, we are building an efficient pension services organisation that evolves with the times and is ready for the future, for millions of participants and tens of thousands of employers.
How do you keep pension services affordable without compromising on quality? At PGGM, we do so by investing smartly in scale, standardisation and digitalisation.
Cost-efficient and future-proof
For social partners: tailored support
Social partners play a key role in the transition to the new system, which is why we provide them with tailored support, for example by helping them inform their members about the new scheme. Working together in this way helps build broad understanding and support. This approach strengthens trust in our services and in the new pension system.
Employers are also experiencing the benefits of our renewed services. Satisfaction among participants of PMT and Bpf Koopvaardij improved from 7 to 8. Employers benefit from more digital self-service, faster handling of queries and secure login via eHerkenning.
From January 1st2025, PMT employers will submit their pension data entirely automatically via the Uniforme Pensioenaangifte (UPA). This shift will lead to a simpler and more up-to-date process, with less risk of errors.
For employers: easy and certainty
In 2024, participant satisfaction once again scored well adove an 8 out of 10
Satisfaction among participants of PMT and Bpf Koopvaardij increased from 7 to 8.
For participants: clarity and accessibility
The transition to the new pension system places significant demands not only on us as a pension services organisation, but also on participants, employers and social partners. Now more than ever, they need to be able to rely on clear communication and personal support. We therefore continue to invest in excellent service, tailored to the needs of each target group.
In 2024, participant satisfaction once again scored well above 8 out of 10. During the recertification of the Gouden Oor quality mark for our services to PFZW participants, we achieved a score of 87.5 out of 100.
Participants value our clear communication, user-friendly online environment and the option to speak to someone personally when needed. We are making pension information more accessible, including for people with limited digital skills or financial stress.
Through digitalisation and data-driven personalisation, we are increasingly able to tailor communication to individual circumstances. In doing so, we help participants gain better insight into their pension, now and in the future.
Maintaining and strengthening trust through personal and accessible service
At PGGM, a lot of effort is going into preparations for the Future of Pensions Act (Wtp). Marion Beekmans, advisor for product strategy, plays an important role in this process. As the lead of the Participant Expertise Centre, Marion conducts research among PFZW participants. The participant’s perspective is always at the heart of her work. In this video, she shares more about it.
Participants First: preparing for the Future Pensions Act
Excellent customer service in a time of change
‘They help us innovate more effectively, retain scarce expertise and position ourselves as an attractive employer. Scale enhances our impact and enables us to deliver higher quality for both our people and our clients.’
'I am incredibly proud of PGGM. Despite the intense preparations for the transition to the new pension scheme under the Future Pensions Act (Wtp), we achieved this collaboration. It is one of the reasons I came on board. I enjoy challenges like these.’
He continues: ‘Preparations for this first phase began in the summer of 2023, and the run-up to July 1st 2024 was tight. It was a high-pressure period with tight deadlines.What impressed me most was seeing around 200 people working at the same time to make sure we could complete the transfer of activities from The Hague on July 1st'
‘This approach has now been aligned with PMT as well, something employers will notice immediately. We continue to improve our services in ways that are both visible and invisible to our clients.’
One example of more efficient service for clients and employers is the UPA (Uniforme Pensioen Aangifte), the submission of employment data by employers. Robert explains:
Improved service delivery
‘Our vision is to become the most outstanding pension services organisation in the Netherlands, for pension funds, participants and employees. To achieve this, we need to operate as one pension services organisation. Not only in name, but also in the way we work. We must align our processes to become more efficient, increase our impact, and serve all our clients even better. This transition also creates economies of scale, which we aim to use to keep costs as low as possible.’
The collaboration goes beyond a structural merger; it is a way to make PGGM future-proof. Much work remains to be done in the years ahead. Robert explains:
Future-proof organisation
FUSE is the programme that supports the continued integration of PGGM Zeist and PGGM The Hague (formerly MN Pension Services) in the years ahead. Its aim is clear: to function as one pension services organization. Not just on paper, but also in terms of culture, processes and collaboration. With attention to people and the organisation, FUSE is guiding this transition.
What is FUSE?
Robert Voogt,
program director of FUSE
Pride and challenges
‘Moving from MN to PGGM in July 2024 has been a really positive experience. From day one, the Business Consultants team in Zeist made me feel part of the team. I’m now part of PGGM’s Works Council as well, where I can put my experience to good use for the organisation. This smooth transition gives me energy and inspiration for the work ahead.’
William Vrasdonk, Business Consultant, Pension Services
Inspiration and the future
What inspires Robert most is the strength of the people at PGGM:
‘My background is not in the pension sector, but I stepped in with great enthusiasm and conviction. PGGM has so much in-house expertise, and I have seen how much we can achieve as an organisation when we work together. That is truly inspiring. In the years ahead, we will continue to grow and develop as an organisation together. I am convinced this will help us to be and remain the best pension services organisation in the Netherlands.’
What do colleagues think?
‘Colleagues in Zeist made a real effort to take the time and space to make me and my team feel welcome. Just a simple ‘Great to have you as our colleague’ or ‘Welcome to the team’ goes a long way. That sense of connection is a solid foundation for working well together.’
Evita Pardon, Manager Client Information PMT & Bpf Koopvaardij
As of July 1st 2024, we have been working as one organisation across two locations: Zeist and The Hague. What has the transition been like for our colleagues?
‘The transition on July 1st was both a challenge and a real highlight. We successfully integrated the change organisation and the portfolio on time, and working with a multi-client mindset is now part of our daily routine. It shows colleagues in The Hague and Zeist aren’t so different after all. We know how to find each other and work together for our 5.8 million participants, the employers and the funds.’
Jasper Martens, senior manager Business Change & Data Analytics
‘The transition and the collaboration with colleagues from MN Services have been really positive as well. We’re a great match. The run-up to the transition was constructive too, with both sides focused on what was best for employees and for the participants of PMT and Bpf Koopvaardij. We now work as one organisation with harmonised employment conditions for all former MN Services and PGGM colleagues. For now, we’re still working from two locations, but I don’t think this gets in the way of good collaboration. I’m looking forward to the move to Utrecht, where we’ll all be working under one roof, making it even easier to connect.’
Fransisca Donkersloot, manager HR Services & Advice
‘The transition to PGGM has been a really positive experience for me, and for PMT as well. There are actually a lot of similarities, though sometimes things work a bit differently and that just takes some getting used to. I really hope we achieve all the goals we’ve set and become the best multi-partner pension services provider in the Netherlands!’
Marcel van Lobenstein, accountmanager PMT
This important transition is being guided by the integration programme FUSE. We spoke to Robert Voogt, Programme Director of FUSE, about the process behind the scenes, the challenges along the way, and the opportunities it brings for the future.
On July 1st 2024, a major milestone was reached: the pension services of MN were transferred to PGGM. With this transition, we have also taken on the administration of the pension schemes for Pensioenfonds Metaal en Techniek (PMT) and Bedrijfspensioenfonds Koopvaardij (Bpf Koopvaardij). Together with 300 former MN colleagues, we now operate from both Zeist and The Hague, serving the pensions of 5.8 million participants.
A milestone in the pension sector
FUSE: the transition of MN pension services to PGGM
We aim to ensure good pensions for participants, deliver excellent and personalised customer service, and advise our clients on their pension schemes.
Pension services and advisory