Industry Pension Fund in Westland
An industry pension fund (BPF) manages pension accrual for employees and employers in a specific sector, such as the thriving greenhouse horticulture or transport in Westland. A collective labour agreement often mandates a uniform scheme. This article discusses BPFs with a focus on Westland situations, legal frameworks, and your rights as a participant.
What does a BPF mean for Westland?
A BPF is an independent foundation that arranges pensions for an entire industry, such as greenhouse construction, logistics, or retail in the Westland region. Unlike a private policy, you build up collectively, with contributions shared by employer and employee. The fund invests the premiums and pays out later.
Key features:
- Industry-wide: One standard for all Westland companies in the sector.
- Mandatory: Usually imposed by collective agreement for local businesses.
- Joint governance: Westland employers and unions have a say.
Examples: Bpf Bouw for construction projects in Westland, bpfMT for metal companies, or BPF Transport en Logistiek for regional road transport.
Legal rules for BPFs
BPFs are governed by the Pensions Act 2007 (PA). Key provisions:
- Art. 1(1) PA: BPF for companies in one industry, such as Westland horticulture.
- Art. 17-24 PA: Establishment and fund rules.
- Art. 66 PA: Obligation via binding declaration of general applicability of a collective agreement by the Minister of SZW.
De Nederlandsche Bank (DNB) supervises finances, AFM oversees communications. Violations lead to sanctions or administration. In Westland, disputes can be brought before the Westland District Court.
BPF versus other funds
The Netherlands has three types of pension funds. Comparison:
| Type | Scope | Participation | Governance |
|---|---|---|---|
| Industry Pension Fund (BPF) | Entire sector, e.g., Westland greenhouse horticulture | Often mandatory via binding declaration | Social partners |
| Company Pension Fund (OPF) | Single company | Collective agreement or voluntary | Company & staff |
| Pension Insurance (PPI) | Individual/small business | Voluntary | Insurer |
BPF provides industry-wide risk spreading, ideal for vulnerable Westland sectors.
Westland practice examples
Example: You are a greenhouse horticulturist in 's-Gravenzande. Under the Greenhouse Horticulture collective agreement, your employer contributes to the relevant BPF. In 2023, this is around 24% of salary, with the employer paying the majority. More on employer contributions.
In transport: In case of bankruptcy, your accrual with bpfTL remains safe, independent of your Westland employer.
Rights and obligations as a Westlander
Rights
- Statements: Annually via mijnpensioenoverzicht.nl.
- Access to regulations: Request and object (Art. 62 PA) at Westland District Court.
- Survivors: Partner's pension protected.
- Portability: Accrual transferable within the sector.
Obligations
- Co-contribution via payroll.
- Update details with Westland Municipality or fund.
- Provide accurate information for payouts.
Employers must pay on time (Art. 68 PA); otherwise, wage claim via Legal Aid Desk Westland.
Frequently asked questions
Do I have to participate in BPF in Westland?
Yes, if subject to a binding collective agreement. Check on Rijksoverheid.nl or via union.
Employer not paying contributions?
DNB fines; summons via Westland District Court. Fund often compensates.
How do I check my BPF pension?
Using DigiD on mijnpensioenoverzicht.nl; UPO annually.
Impact of Pension Agreement 2023?
BPF adapts to Future Pensions Act; rights secured.
Tips for Westlanders
Maximize your BPF:
- Check UPO against payslips.
- Extra savings: Alongside state pension with personal scheme.
- Stay in sector for continuity.
- Need help?: Start at Legal Aid Desk Westland for free consultations.
More: Employer contributions, Collective agreement rights Westland, Pensions Act.
BPF promotes solidarity in Westland sectors.