Pension premiums rise in many sectors, pressure looms on pay

Pension premiums are rising by between 1% and 2% in many sectors this year, the Volkskrant reports on Monday.


The paper, which has carried out its own analysis, says pension premiums have doubled over the past 10 years.
The bulk of the premium increase is carried by employers who are concerned about the increase in the cost of labour, the paper says.
‘While there has been talk of the need to stabilise wage costs, they will go up in many sectors,’ Leon Mooijman, of employers organisation AWVN, told the paper.
Employers had hoped for a premium freeze this year. This is one of the elements in the new pension agreement sealed by unions and employers last year. However, the deal has not yet been approved by parliament.
The increase in premiums is largely to offset falling interest rates, the paper said.
The rise in premiums will also add to the pressure during the next round of pay talks, Mooijman said. ‘Employers will say there is little room for pay rises because wage costs have risen,’ he said.
The FNV trade union has already said it wants a 2.5% pay rise this year.

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