Pension-relevant issues for employers regarding the corona crisis

Pension-relevant issues for employers

The corona virus is the talk of the day and its impact on our society is immense.

Olivier Roodenburg

Senior manager - KPMG Pensions Advisory

KPMG Nederland


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As an employer, you have a lot coming at you as well. To unburden you a bit, we hereby provide a brief and concise overview of pension-relevant issues in relation to the corona crisis. We will update this overview periodically based on the latest developments to ensure that nothing escapes your attention in this area.

Payment of pension contributions

Is your organization facing acute financial problems due to the corona crisis? Under certain conditions, pension providers can provide a payment arrangement or payment deferral for the pension contributions due. Ask your pension provider about the possibilities and conditions. Please do not forget to check whether your employees remain covered for the risk of death and disability in case of a payment deferral.

You may also meet the conditions for the 'Emergency Bridging Measure for Sustained Employment' (NOW). Then you can apply for a temporary compensation for part of your wage costs at the Institute for Employee Insurance (UWV). This compensation also takes nto account employer and employee pension contributions.

Reduction in working hours

Are you unexpectedly forced to apply a temporary reduction of working hours to your employees? Then be informed that this could lead to a lower pension accrual. Under certain conditions, there are possibilities to continue the pension accrual in full on the basis of the original working hours and the pensionable salary prior to the reduction of working hours.

Deployment of retirees

Do you want to temporarily employ pensioners to absorb an increasing workload due to the corona crisis? This is possible without adverse tax consequences for their pension. The Dutch Tax and Customs Administration has confirmed this for retired healthcare workers, but in our opinion this also applies to retirees who are temporarily working in other so-called vital professions.

Risk coverage in the event of death and disability

Do you have employees who are located in high-risk areas for which the color code is orange (only necessary travel) or red (do not travel) due to the corona virus? Many insurers, premium pension institutions and pension funds have confirmed to not apply restrictions with respect to coverage in the event of death and disability.

Employees just before their retirement date

Do you have a defined contribution plan in place for your employees and are one or more of your employees close to reaching their retirement date? Due to the sharp fall in stock prices, these employees will currently be faced to purchase a lower pension than expected. We advise to inform these employees and explore the possible solutions. Some examples are part-time pension, postponement of the retirement date or purchase of a variable pension.

© 2021 KPMG N.V., een Nederlandse naamloze vennootschap en lid van de wereldwijde KPMG-organisatie van onafhankelijke ondernemingen gelieerd aan KPMG International Limited, een Engelse vennootschap “limited by guarantee”. Alle rechten voorbehouden.

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