ARTICLE · 05 DECEMBER 1995

Work Party - Flexible Pension Scheme

KPMG Meijburg & Co

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KPMG Meijburg & Co, the Netherlands comments on Work Party - Flexible Pension Schemes (WPFPS)

This is contribution number 21 by KPMG Meijburg & Co regarding Work Party - Flexible Pension Schemes (WPFPS)

On September 1, 1995, WPFPS issued its report to Undersecretary Vermeend on the fiscal possibilities of introducing more flexible pension schemes. The report contains 29 recommendations which can be used in the future in ministerial regulations or resolutions. The Work Party recommends, among other things, the application of a maximum percentage of 2 per cent per annum of the last earned salary for the pension accrual. The percentage of 2 is considered adequate to accrue a socially acceptable pension. However, according to an August 1987 resolution directors-major shareholders were allowed an accrual percentage of 2.33 per year. The question therefore is whether an accrual percentage of 2.33 will still be permitted in the future. Moreover, a number of early-retirement-schemes

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