Company pensions are set to rise 0.4% this year, well below the targets of rises in line with inflation, the central bank said in its latest quarterly bulletin.

Inflation is set to hit at least 1% in 2010.
The bank says funds’ financial positions do not allow for a larger rise as yet because they are still recovering from the effect of lower interest rates and the depreciation of their investments caused by the economic crisis.
Nevertheless, the combined pension contributions by employers and employees in 2010 will rise from 16% to 16.4% of the average salary, the central bank said.