How secure is your pension?
Your pension is not certain. Risks may arise for you pension and there may be a pensions shortfall. For example:
- The average age of people in The Netherlands is increasing. As a result, we have to pay their pensions for a longer time. And we need more funds to meet our pension commitments.
- A low interest rate makes pensions more expensive. As a result, our pension fund will need to be better funded to be able to pay all pensions.
- Our investments results may be disappointing.
In layer 2 you can read more about our financial situation and the policy funding ratio. If these are poor, your pension may become lower.
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.
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 your pension by 11.83% as of 1 January 2023 (over 2022). The negotiated wages paid by the employer ( from October 2021 to October 2022) developed by 3.5% (CAO increase (collective bargaining agreement) as of 1 April 2022). The price development based on the provisional consumer price index figure (from October 2021 to October 2022) was 16.93%.
| Date | For deferred participants and pension beneficiaries |
For participants |
| 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).
If there is a deficit
If we have a deficit we may have to take measures. These are listed in our recovery plan.br>
For example:
- Your pension will not grow (entirely) in line with prices.
- Your pension will decrease. This only happens if we have no other options.
In layer 2 you can find more information on the financial situation, the policy funding ratio and the possible consequences for your pension.