Economic and legal aspects of the choice of funds to transit or not

In this topicality project we investigate the economic and legal consequences for pension funds that do not or only partially transit. We analyze what room the (pension) legislation leaves for funds not to go into transition and discuss the economic and legal scenarios and consequences if pension funds decide not to transit.

This research focuses on two main questions:

  1. What are the legal requirements for transitioning or not transitioning and what preconditions do they form for pension funds? An important question here is how to define a disproportionate unfavorable/unbalanced disadvantage for some groups of stakeholders.
  2. What are the economic and legal considerations and scenarios when choosing to transit or not?

The decision whether or not to transit, differs greatly per fund and per situation. In this research question, the most important exceptions of a transition are inventoried and analysed. For each case (e.g., a gray or a green fund) it is firstly examined what economic benefits can be expected from a transition to a new pension contract and secondly what the legal preconditions for transitioning or not, in reality mean for the various cases. In the economic assessment for each case, attention will be paid to:

  1. Consequences for the pension result for different generations;
  2. Room for risk sharing;
  3. Continuity and execution costs for funds.

Netspar, Network for Studies on Pensions, Aging and Retirement, is a thinktank and knowledge network. Netspar is dedicated to promoting a wider understanding of the economic and social implications of pensions, aging and retirement in the Netherlands and Europe.

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