At least 20 more pension funds may have to cut pay-outs in 2013, unless the economy improves, according to research by Nos television on Friday.

The Dutch central bank is due to publish a list of pension funds which need to boost their assets to avoid making cuts on Monday.
In January, the central bank said 125 funds would have to take steps to get their finances in order. Among the pension groups which have already said they will cut pay-outs next year are civil service fund ABP, health care fund PMT and the engineering industry funds.
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