Regulatory Alerts2026-02-23
Towards Better Legal Protection for Pension Scheme Participants
The Dutch Authority for the Financial Markets (AFM) issued this report to address inconsistencies in how pension funds handle participant complaints, highlighting significant barriers to legal protection during the pension system transition. The investigation reveals that the absence of a uniform definition of 'complaint' and varying procedural accessibility prevent participants from easily voicing grievances, leading to fragmented reporting and potential loss of trust. The AFM recommends that all expressions of dissatisfaction be classified as complaints, urges pension funds to simplify their procedures, and calls on the legislature to embed statutory safeguards for complaint handling in the Pension Act.
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