AFM wants to end painful situations surrounding survivor pensions and calls for action

The Netherlands Authority for the Financial Markets (AFM) has issued a call for pension providers to improve how they handle survivor pensions. The regulator observed that many people face financial hardship after the loss of a partner because they were not properly informed about the requirements for activating these benefits. The AFM insists that pension providers must communicate more actively, personally, and clearly, ensuring that participants know exactly when they need to take action. According to the regulator, the responsibility to locate beneficiaries, including partners and children, lies with the providers rather than the survivors themselves.

Furthermore, the AFM suggests that providers should adopt an empathetic approach, such as establishing dedicated support desks or assigning personal case managers to assist grieving families. The regulator recommends that participants verify their current pension agreements, register their partners with their providers, and remain vigilant during job changes or relationship status updates. By providing timely and understandable information, the AFM hopes to prevent unnecessary financial distress for surviving dependents.