The Dutch pension transition has reached two further milestones, with both the Occupational Pension Fund for Veterinarians (SPD) and Shell Nederland Pensioenfonds Stichting (SNPS) completing key steps toward the new system.

As of 1 January 2026, the SPD transitioned to the new pension system, with more than 9,000 members moving to a flexible premium scheme as part of the change.

The transition was delivered through close collaboration between SPD, Achmea Pension Services, and Achmea Investment Management, alongside intensive engagement with the regulator.

This cooperation has supported the further development of the transition process, which is expected to be fully completed by mid-2026.

The three organisations will continue to work closely together over the coming period to ensure a controlled and orderly implementation of the remaining steps.

According to those involved, the transition underscores the importance of effective collaboration and shared commitment in managing the process's complexity.

Meanwhile, SNPS has launched its new pension scheme, becoming the first Shell pension fund to make the switch to the new system.

The move follows several years of preparation and intensive cooperation among SNPS, Shell Nederland, Achmea Pension Services, Achmea Investment Management, and the supervisory authorities, De Nederlandsche Bank and the Netherlands Authority for the Financial Markets.

Shell’s other Dutch fund, Shell Spoorwegpensioenfonds (SSPF), which currently operates an average salary scheme, is expected to transition to a flexible premium arrangement on 1 January 2027.

For SNPS members, the firm said that much will remain familiar.

Indeed, the fund has provided variable benefits under the Improved Premium Schemes Act since April 2017, meaning its existing design already aligned closely with the principles of the flexible premium scheme.

Meanwhile, changes introduced under the new framework have been communicated through an extensive participant engagement programme.

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