To manage the pension transition in the Netherlands, pension providers are obliged to draw up a transition communication plan. From 1 July 2023, these plans can be submitted to the Netherlands Authority for the Financial Markets (AFM). Due to the staggered submission of the plans, the regulator has already had the opportunity to assess some of the plans. In this article, we list the most important feedback from the AFM.
The AFM published preliminary guidance on the Communication Plan earlier this year. This was updated and finally published on 30 June. This guidance describes quite extensively what the Communication Plan should meet:
On 12 September, the AFM published its interim feedback on the first plans. The main line of these learning points:
The AFM’s guidance and interim feedback align well with previous publications on communication with customers in the financial sector. Although the requirement to draw up a communication plan is new, the AFM’s expectations are fairly similar to those in other situations such as investment insurance and redemption-free mortgages. We have extensive experience in these and similar processes, so if you need support, please feel free to contact us.
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