Around €550bn worth of Dutch pension fund assets will transfer to the new system in January 2026, marking the start of a "significant unwind" of longer-dated bonds and swaps, according to ING Netherlands.
With another €900bn in assets planned to transition in 2027, ING Netherlands said it foresees a broader structural fall in the demand for longer maturities in euro fixed income, meaning that 30-year rates should continue to experience upward pressure for the foreseeable future




