International individual transfer of the value of a Dutch pension right to a foreign pension institution

Q&A

Read aloud

Question

Is it possible to have a Dutch pension provider transfer accrued pension rights to a foreign pension institution?

Published: 25 February 2019

Answer

If a person is going to work abroad, it is possible under certain conditions to transfer the value of the pension rights accrued in the Netherlands to a foreign pension institution. Whether there is a right to an international value transfer depends on the specific situation.

Notes

Below you will find four possible scenarios in which Dutch pension providers are obliged or authorised to cooperate with an international individual value transfer.

1. Right to international value transfer within the European Union to the foreign pension institution of the new employer under Section 85 of the Pensions Act.

The first possibility concerns the situation in which an individual transfer is made to a pension institution from another Member State or an insurer having its registered office outside the Netherlands and the pension provider would be obliged to make the transfer it were to a Dutch pension provider. If the former scheme member requests such a transfer, a Dutch pension provider, as in national situations, must transfer the value of the pension rights to the new employer’s pension provider. This follows from Section 85 of the Pensions Act.

However, the obligation to cooperate only applies if the following conditions are also fulfilled:

the possibilities for redemption of the accrued pension entitlements with the receiving pension institution or insurer are no greater than with the pension provider in the Netherlands;

the scheme member concerned will acquire pension entitlements with the new employer's pension provider;

the partner of the former scheme member has given consent if the request for the value transfer concerns partner pension;

The transferring pension provider is not permitted to levy a charge for the value transfer. Such an individual international value transfer is not submitted to or previously assessed by De Nederlandsche Bank (DNB).

2. Right to international value transfer to one of the European Communities or a designated institution under Section 86 of the Pensions Act.

The second possibility concerns the situation in which a former scheme member requests a transfer of the value of the accrued pension rights to one of the European Communities or the designated institution.

In this situation the former scheme member is entitled to a value transfer (and the pension provider is obliged to cooperate) if the following conditions are met:

employment or scheme membership is terminated;

the value transfer enables the former scheme member to acquire pension rights with one of the European Communities or the designated institution;

the value is transferred directly to the European Community concerned or the designated institution; and

the spouse who is entitled to equalisation, as referred to in Section 2 of the Act on Equalisation of Pension Entitlements in the Event of Divorce (Wet verevening pensioenrechten bij scheiding), consents to the value transfer.

The transferring pension provider is not permitted to levy a charge for this international individual value transfer. Such an individual international value transfer is not submitted to DNB nor is it assessed in advance.

3. Authority to cooperate with an international value transfer to another foreign, non-EU/non-EEA institution under Section 87 of the Pensions Act.

The third possibility concerns the situation in which a former scheme member requests a transfer of the value of the accrued pension entitlements to a pension institution outside the EU/EEA. In this situation the Dutch pension provider is authorised, but not obliged, to cooperate with the international individual value transfer.

The conditions and the procedure for notification and assessment of such an international individual value transfer to another foreign institution can be found here .

The Dutch pension provider is not permitted to transfer the value until DNB has issued a positive statement.

4. Authority to cooperate with an international individual value transfer to a pension institution from another Member State or an insurer having its registered office outside the Netherlands under Sections 88 and 89 of the Pensions Act

The fourth possibility concerns situations in which the Dutch pension provider is not obliged but is authorised to cooperate with an international individual value transfer to a pension institution from another Member State or an insurer having its registered office outside the Netherlands.

This authority applies as in national situations if the Dutch pension provider has the necessary authority. For example, if a former scheme member submits a value transfer request outside the time limit or if the former member is entitled to shop around in the case of a defined contribution scheme or capital sum agreement and fulfils the conditions that also apply in national cases.

Such an individual international value transfer is not submitted to DNB nor is it assessed in advance.

Discover related articles

Q&A

Pension funds

Share:

Share on LinkedIn

Share on X

Share on Facebook

Share via Email

Interesting articles

Dutch insurers and pension funds have been investing more in private assets in recent years

15 July 2026

News item supervision

Dutch insurers and pension funds are investing more and more in private assets, such as private equity and private credit. By 2025, they had a combined total of €276 billion worth of these investments on their books.

Read more Dutch insurers and pension funds have been investing more in private assets in recent years

News item supervision

15 July 2026

DNB email on technical adjustments

25 June 2026

News item supervision

This week, you may receive an email from De Nederlandsche Bank (DNB). This email concerns technical adjustments required to continue corresponding with DNB by email.

Read more DNB email on technical adjustments

News item supervision

25 June 2026

Update FATF-warning lists June 2026

23 June 2026

News item supervision

FATF released an update of its ‘grey’ and ‘black’ lists.

Read more Update FATF-warning lists June 2026

News item supervision

23 June 2026

Eurosystem presents proposals to strengthen macroprudential oversight of the non bank financial sector

05 May 2026

News item supervision

The Eurosystem has published policy proposals aimed at strengthening the macroprudential oversight of the non bank financial intermediation (NBFI) sector. The proposals seek to improve the identification and mitigation of risks to financial stability.

Read more Eurosystem presents proposals to strengthen macroprudential oversight of the non bank financial sector

News item supervision

05 May 2026

Necessary cookies

To ensure the proper operation of the website, De Nederlandsche Bank (DNB) uses functional cookies and analytics cookies, and has taken measures to ensure that these cookies have little or no impact on the privacy of website users.

Optional cookies

Some pages include embedded content from external websites. These websites may use proprietary (tracking) cookies. This allows third parties to track visitor statistics, show personalised content and display targeted ads, for example.

You can make your choice about allowing these optional cookies both when you first visit the website and when you navigate to a page with embedded content.