Why is communication one of the most underestimated aspects of the Dutch Wtp pension transition?

Meet Senior Manager Pensions Romy Niels and discover why communication during the Dutch pension transition is often underestimated.

Could you tell us a bit about yourself?

I’m Romy Niels, 33 years old, and I live in Utrecht with my partner Dennis and our one-year-old daughter Luna. I joined IG&H in 2019. After studying International Business in Groningen and Strategic Management in Rotterdam, I started as an analyst in the Pensions team and have since grown into the role of Senior Manager.

A large part of my career has taken place within the pension industry. One major focus area is the Dutch Future Pensions Act (Wet toekomst pensioen or Wtp). I’ve worked for several pension insurers and especially for pension administration organizations, on a wide range of topics: from IT strategy to IT delivery, cost-saving programs, Wtp program management, proposition development, creating a Products and Services Catalogue and various innovation projects, for example in customer service.

The common thread in my work is translating strategy into concrete implementation. I want to help organizations genuinely move forward, together with the people who work there, and ensure lasting impact, even after I’m gone.

What attracted you to IG&H?

The culture and the people were the first pull factor. Even during the interview process, I felt at home. The atmosphere was open and respectful, with genuine interest in one another. What struck me right away was how incredibly smart and ambitious everyone was while also being truly collaborative and committed to helping each other grow.

In recent years, IG&H has also changed significantly. From a Dutch boutique consultancy specialized in certain sectors to an international company that helps clients with complex transformations: from strategic advice all the way through technology implementation. For this last part, IG&H has also developed its own software and data solutions. This massive change calls for flexibility and constant learning, but it also creates tremendous opportunities. With all the expertise we now have in-house, we can truly make an impact at scale in the pension industry, and that’s exactly what keeps me at IG&H.

What is your role and what does it entail?

Since last year I’ve been working as a Senior Manager. This means I lead projects, train and coach consultants and young talent, and actively build and maintain relationships within the sector.

In my current assignment, I have a role at one of the largest pension administration organizations in the Netherlands and work as an advisor for a top-5 pension fund. In that role I serve as the central link between the fund’s board and administrative office on one side and the administration organization on the other, specifically in pension participant and employer communication. I advise the fund on communication policy and strategy and create the annual communication plan. It’s a complex and challenging role where I learn something new every day and get a tremendous amount of energy from the work.

Why do you think communication is one of the most underestimated elements of the Wtp transition?Because communication is still too often treated as “something we also need to do.” It tends to show up only after decisions have been made, while in the Wtp communication is actually one of the most important levers available.

The Wtp asks something of citizens - the participants - that we haven’t asked of them for years: dealing with uncertainty, understanding personal consequences and sometimes making their own choices. In essence, the Wtp requires a behavioral shift from participants. We’re asking them to look at retirement differently: less as a collective promise and more as a personal financial journey with uncertainties. Many organizations still approach communication as information transfer: we explain what is changing and assume understanding will follow automatically. In practice, it doesn’t work that way. Understanding does not automatically lead to acceptance, and acceptance does not automatically lead to trust or action.

Good communication is therefore about guiding participants through that change: addressing emotions, understanding their concerns or questions and engaging at moments when retirement suddenly becomes relevant. That requires different skills and different types of content than we are used to... and that’s exactly why communication is still often underestimated.

What makes Wtp communication fundamentally different from previous pension communication?

The core is that retirement becomes more personal. We’re moving from collective promises to individual assets and choices. That means standard letters and uniform messages are no longer enough. Participants want to know: what does this mean for me, at my age and my personal situation?

At the same time, funds and insurers operate within strict regulations and I expect supervisors to develop more requirements and best practices. The challenge is combining legal accuracy with clarity and empathy.

The content of the message also changes fundamentally. We will no longer be communicating about funding ratios but about personal pension pots that fluctuate with the economy, about returns and costs. That requires a different approach where funds consciously decide: which message for which audience, through which channel and at what frequency, for both participants and employers.

What does enough pension mean to me? The following words are used most frequently:

“sufficient,” “security,” “peace of mind,” “freedom,” and “enjoyment.”

Where do pension organizations still face the greatest challenges?

I see several recurring pitfalls. An important one is involving communication too late or approaching it too much from a compliance angle. The result may be legally sound, but no longer resonates with participants or, worse, is simply not understood. Transition overviews are a good example of this.

A second pitfall is the difficulty of reaching and activating participants. I strongly believe organizations need to be present at moments that matter and make processes as simple as possible during life events such as divorce, marriage, disability or retirement. This requires accessible communication as well as creativity in content and timing.

Finally, funds will still often view things just from their own perspective. However, participants operate within a broader financial landscape: their perspective also includes multiple pension pots, third pillar products, mortgages and the financial situation of a partner. We need to better understand that bigger picture and act accordingly.

What does the Wtp require from boards and management when it comes to communication?

Boards need to accept that communication is not the final step but a strategic instrument. It’s about trust, clarity and reputation. In the Wtp context, not communicating or communicating too late is often riskier than being open about the uncertainties we cannot avoid.

This requires timely investment in consistent narratives, scenarios for questions and resistance and attention to communication during market volatility. It’s also important to test communication and continuously improve it based on feedback instead of trying to finalize everything in one go. Organizations that do this well experience fewer questions, less resistance and more trust. The complexity, however, is often underestimated: different audiences, multiple moments and various channels over multiple years.

Do you see differences between pension funds, administrators and insurers?

Absolutely. Pension funds often deal with specific participant populations and complex governance. Pension administration organizations operate more from scale and process but need to ensure communication stays aligned with the needs of fund participants. Insurers often have stronger commercial and digital channels but may face more participant distrust and can benefit from adopting a more participant-centered perspective. Each type of organization therefore requires a different communication strategy, even though the underlying principles remain the same.

Why does this work fit so well with IG&H and your Diamond status in pensions?

Because we don’t see communication as a standalone discipline but as part of the full pension value chain. We combine deep pension expertise with strategy, data, IT and customer experience. This means we don’t stop at creating great plans but help organizations make them work in practice. With our own developers we can, for example, show clients within a week what an optimal customer portal could look like.

That combination of expertise, execution and impact is exactly why IG&H has is a Diamond-level party in pensions in Consultancy.nl’s annual ranking and why I, together with many colleagues, work in this sector with so much energy and passion.