Preparing for collective actions in the pension sector

The pension transition is currently in full swing and the first pension funds are getting ready to switch to the new pension system on 1 January 2025. When the Future of Pensions Act (Wet toekomst pensioenen) was being drafted, the Council of State and the Council for the Judiciary warned that this unique and dramatic transition would give rise to much litigation. In view of the large number of people who will be affected by the transition, a very substantial number of claims are to be expected. How can the sector prepare for this?

Anouk Boutens and Diederik van der Kooij wrote an article on the subject for the PensioenMagazine pension journal. In their publication, Anouk and Diederik give suggestions on how the pension sector can prepare for potential collective actions based on previous collective actions in the financial sector, explaining the conditions that apply to collective actions under the Settling of Large-Scale Losses or Damage (Class Actions) Act (Wet afwikkeling massaschade in collective actie) and discussing what collective actions could look like in the pension sector.