The Dutch pension system needs to be revised and it is important this is done as quickly as possible, the Dutch pension federation has said in a response to the failed government negotiations this weekend.

After seven weeks of negotiations to decide on a further £18bn cut on government spending, the coalition government this weekend announced no agreement was reached.

Today Prime Minister Mark Rutte is expected to hand in the government’s resignation and it is likely new elections will take place this summer.

The Pension Federation said the failed negotiations can have possible consequences for the further development of the pension agreement, but it is urging Social Affairs Minister Henk Kamp and the government to continue working on the agreement.

It said it is necessary to have legal arrangements to offset the continuously increasing life expectancy, to have clear guidelines for how to calculate premiums, and to agree upon the method to calculate the liabilities.

The Federation therefore assumes the minister will still send a ‘main points memorandum’ on the development of the agreement to parliament in May, as he has promised earlier this year.

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