The Foundation for the Construction Industry Pension Fund (bpfBOUW) has over fifty years of experience in the pension scheme of the employers and employees of the construction industry in the Netherlands. It was established by the organizations of employers and workers, representing the construction industry. Representatives of these organizations constitute the Board of bpfBOUW.

Board composition

Strictly paritarian; 14 members elected by social partners, i.e. organizations representing employers and employees in the 4 sectors of construction industry.

Regulatory framework

2000 Mandatory Participation in an Industry-wide Pension Fund Act (Wet Bpf 2000), Pensions Act (Pensioenwet).

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Employee Group Covered

All white and blue collar workers of the building industry, finishing, timmer and stone industry, including part-timers are covered with the exception of those who hold at least 10% of the stocks of a sponsor company; Full coverage for dependants.

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Eligibility

No immediate eligibility.

Compulsory coverage.

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Benefits

Retirement

The pension scheme entitles the worker to build on retirement, which allows him/her to claim for a monthly lifetime pension as well as annual holiday in May.

Definition of pensionable pay: Pension base = pension salary (max. € 53.702,22) minus national (first pillar) old age income provided by the state (AOW)

In case of the worker’s death, the survivor (spouse or orphans) is entitled to pension benefits.

In case of disability, the worker is entitled to a contributory disability pension.

Early retirement is possible if the workers built up enough pension upon 65 years old.

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