Indexation
Each year the pension fund tries to increase your accrued pension, also referred to as indexation. The purpose of indexation is to keep the value of your pension in line with the increase in negotiated wages or prices, if higher. Your pension will only be increased if the pension fund’s financial situation is sufficient. If the fund's financial situation permits, the board may decide to increase pensions.
Over the last 5 years the pensions have been adjusted as follows
The table below shows the increases that we have implemented in the last 5 years. It also shows whether an increase in prices has been compensated by an increase in your pension. This year, we have increased the accrued benefits of active participants by 1.92% as of 1 January 2024 (over 2023). The negotiated wages paid by the employer (from October 2022 to October 2023) developed by 3.0% (CAO increase (collective bargaining agreement) as of 1 April 2023). This year, we haven’t increased pension entitlements and rights of non-active participants (in other words, former participants and pension beneficiaries). The price development based on the provisional consumer price index figure (from October 2022 to October 2023) was 1.98% negative.
| Date | For deferred participants and pension beneficiaries |
For participants |
| 1 January 2023 | 11.83% | 11.83% |
| 1 January 2022 | 3.28% and 0.67% catch-up indexation | 3.28% and 0.67% catch-up indexation |
| 1 January 2021 | 0.48% | 1.31% |
| 1 January 2020 | 0.90% | 1.70% |
| 1 January 2019 | 1.06% | 1.42% |
| 1 January 2018 | 0.47% | 0.79% |
More information?
More information on pension increases is available at Indexation (pdf).