How secure is your pension?
Your pension is subject to risks
The pension fund is faced with a number of risks, including the following:
- The average age of people in The Netherlands is increasing. This means that we have to pay the pension for a longer period of time.
- Low interest rates mean that pensions become more expensive. This means that we require more money to be able to pay the same pension.
- The results of our investments may be disappointing.
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. The board annually decides whether indexation can be granted.
You work for Avery Dennison
The aim is an indexation of the pension entitlements for active participants that equals the development of the negotiated wages at the employer, or - if higher - the growth of the derivative consumer price index.
You do not work for Avery Dennison anymore
The aim is an indexation of the pension entitlements for past participants and pensioners that equals the growth of the derivative consumer price index.
If the fund's financial situation permits, the Board may decide to increase pensions.
Over the last 10 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 of change | pension active participants increased by | pensions former participants increased by | increase of negotiated wages | price increase* |
| 2022 |
3.28%
and 0.67% catch-up indexation |
3.28%
and 0.67% catch-up indexation |
2.25%
|
3.42%
|
| 2021 |
1.31%
|
1.31%
|
3.00%
|
1.12%
|
| 2020 |
1.70%
|
0,90%
|
3.25%
|
1.73%
|
| 2019 |
1.42%
|
1.06%
|
2.25%
|
1.68%
|
| 2018 |
0.79%
|
0.47%
|
2.25%
|
1.34%
|
| 2017 |
0.00%
|
0.00%
|
2.00%
|
0.42%
|
| 2016 |
0.57%
|
0.13%
|
2.00%
|
0.63%
|
| 2015 |
2.25%
|
0.75%
|
0.75%
|
1.05%
|
| 2014 |
0.00%
|
0.00%
|
2.51%
|
1.56%
|
| 2013 |
0.00%
|
0.00%
|
1.50%
|
2.87%
|
| 2012 |
0.00%
|
0.00%
|
1.75%
|
2.61%
|
*Source: Central Statistics Office in the Netherlands, consumer price index, October to October
Over the past few years our financial situation has not been stable enough to raise your pension yearly
It is uncertain if we will be able to raise you pension yearly in the future. Your pension has not been curtailed over the past few years and we do not expect that this will be necessary during the coming years. More information on this subject is available at Indexation (pdf).
Also read this information
You will find all the rules in our pension regulations in layer 3. You will also read the applicable provisions for if you are no longer working with us or retire.
This is what we do in case of a shortfall
In the event of a shortfall, we will take one or several of the following measures, if necessary:
- Adjustment of our investment policy
- Adjustment of the pensions contributions
- Ask the employer for a extra contribution
- Reducing the pensions. We only do this as a last resort
Also read this information
You will find all the rules in our pension regulations in layer 3.
You will also read the applicable provisions for if you are no longer working with us or retire.