3. The transition is based on a transition plan, an implementation plan and the binding of all (former) employees
Each transition must be based on a transition plan. Such a plan covers, among other things, the type of new pension scheme chosen, the effects vis à via (former) employees, compensation measures and the way in which current pension rights will be converted. These plans are drawn up by the employer in consultation with the unions or the works council, based on input from the pension administrator.
The pension administrator then has to draw up an implementation plan and decide whether to accept and adopt the administration of the scheme. The final step is to bind the (former) employees to the new scheme. Depending on the circ*mstances, this may be done by obtaining (tacit) consent, by applying a unilateral right of amendment or by means of a collective agreement. If the pension scheme is administered by an occupational pension fund, the employer must submit the transition plan to the fund by 1 January 2025. If the scheme is administered by a pension insurer or premium pension institution (PPI), the deadline for submitting a transition plan is 1 October 2027. The whole process must be completed by 1 January 2028 at the latest.
