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ABP pension fund to increase premiums, pay-out cut very likely

Friday 14 December 2012

Civil service pension fund ABP said on Friday it plans to increase premiums by 1.3 percentage points to 25.4% and that a pension cut next year is on the cards.

The increase in premiums will mean a €10 rise for people earning a gross monthly salary of €3,400, the pension fund said in a statement.

The premium is being altered to take into account increased life expectancy, the make-up of the ABP fund membership and the demands of the financial service sector regulator, the fund said.

ABP said earlier pensions will no longer rise in line with wages in an effort to boost its coverage ratio.

The fund is also considering a possible drop in pension pay-outs next April. A 0.5% cut is ‘extremely likely’, fund director Henk Brouwer said in a second statement.

© DutchNews.nl



 

Readers' Comments

Both as a visiting American to The Netherlands, and joining with one as my wife, one of the first observations I made was how healthy the Dutch are in general. With my parents into their 80's, I was quite surprised at the number of elderly Dutch whom commute so often on bicycles every day.

It's a punishing ideology for both government and designated officials to cause increased cost to those that have maintained a healthy lifestyle and are in fact increasing their longevity.

By Married a Dutchie 2009 | 14 December 2012 9:45 PM

 
 
 
 
 
 
 
 
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