Prinsjesdag 2026: opportunities for the pension conversation

Prinsjesdag is a natural moment each year to open the pension conversation. The government's plans provide a reason to discuss with clients whether their current situation is still optimal. This year, there are a few developments that make the conversation about employer annuities especially relevant.

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Box 3 remains in flux

A definitive decision on the future of Box 3 was absent on Prinsjesdag. The government still intends to work toward taxing actual returns, but wants to further develop the design toward a capital gains system (where only actual profits are taxed). The intended implementation date for the new system remains January 1, 2028, for now. For clients building wealth outside the pension system, this means the future tax treatment is not yet fully set in stone.

For pension accrual via the 3rd pillar, the existing tax principles continue to apply. Annuity contributions can be tax-deductible within the available annual margin and carry-forward margin, and the accrued annuity capital does not fall into Box 3 during the accumulation phase. This makes the difference between free capital and tax-advantaged pension capital a relevant part of the conversation with clients.

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The WTP transition continues

The January 1, 2028, deadline for the Future of Pensions Act (WTP) remains in place. For employers with an existing collective scheme, this is a busy time. But for SME clients without a mandatory collective pension scheme, it offers an opening to take a fresh look at pensions as an employment benefit.

An employer annuity falls outside the WTP transition. This makes it a low-threshold alternative for employers without a mandatory collective pension scheme who want to arrange something without years of implementation processes. The position of the Tax and Customs Administration (KG:070:2024:1) confirms that employers can contribute to employees' annuities under certain conditions, while maintaining tax deductibility.

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More discretionary space within the WKR

Starting January 1, 2027, the discretionary space within the work-related expenses scheme (WKR) on the first €400,000 of the fiscal wage bill will increase from 2.00% to 2.16%. For the portion of the wage bill above €400,000, the discretionary space remains 1.18%.

For clients who want to facilitate a pension contribution via final levy, this means slightly more discretionary space becomes available within the first bracket. This makes it a logical moment to re-examine the structure of the contribution. For example, an employer can choose between a contribution via net salary or via final levy. Which route is the best fit remains dependent on the situation of the employer and the employee.

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Prinsjesdag as a catalyst for the pension conversation

Prinsjesdag 2026 does not bring radical changes to employer-sponsored annuities. Precisely for this reason, the real opportunity for intermediaries lies in the conversation surrounding it. The Future Pensions Act (WTP) deadline is approaching, the work-related expenses scheme (WKR) is being slightly expanded, and uncertainty remains regarding the future structure of box 3. These are concrete reasons to revisit pension policies with employers.

The power of Prinsjesdag lies not only in the content but also in the timing. Clients expect their advisors to be up to date with the latest developments. By proactively initiating the conversation, you position yourself as a strategic partner.

The message doesn't have to be complicated. Pension accrual via the 3rd pillar retains its existing tax characteristics. Employers without a mandatory collective pension scheme can facilitate individual pension accrual for their employees. For employees with available annual margin there may be opportunities to build up additional pension in a tax-efficient manner.

Want to know how to conduct this conversation effectively? Check out the brochure for intermediaries.