Stichting Pensioenfonds Medisch Specialisten (SPMS), the Dutch pension fund for medical specialists, has announced a delay to its transition to the new Dutch pension system due to capacity pressures at its administrator APG.

The pension fund was due to transition on 1 January 2027, but it now plans to switch between 1 July 2027 and 1 January 2028.

An exact date will be decided once the pension fund and APG have investigated when a “realistic and responsible” time to transition is.

The pension fund said the delay was due to “available capacity” at APG, as several of its other pension fund clients are planning to switch in the coming period.

The pension fund said postponing the date “creates more room for a well-prepared transition”.

APG is currently in the process of assisting its biggest client, ABP, which it will exclusively invest for from 2030, in its transition.

Earlier this week, ABP’s Accountability Body approved the proposal to transition to the new system, which is intended to be completed by 1 January 2027.

However, the €520bn Dutch pension fund has temporarily reverted to its recovery plan under the current pension rules, after being unable to submit a new bridging plan for 2025.

Several funds managed by APG have already transitioned at the beginning of 2025.

SPMS has joined a growing number of schemes announcing delays to their transition dates. In August, Aon Netherlands said that 78 funds have recently adjusted their previously set transition dates.

Indeed, Aon Netherlands director wealth, Frank Driessen, previously said administrators are struggling to have the systems ready on time to transition.

“The practicalities are proving difficult, and it is demanding a lot from the pension administrators to make a controlled transition to the new system. The big peak will probably shift to 2027,” he said.

European Pensions has contacted APG for comment.

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