Corporate pension reform plan on verge of collapse

The agreement on reforming the corporate pension system worked out last year between unions and employers is on the verge of collapse, the Telegraaf reports on Thursday.

The FNV-affiliated general workers union Bondgenoten has come out against plans to allow corporate pension scheme payouts to vary in line with stock exchange developments, the paper says.
This would mean all the risks would be taken by employees and pensioners which is unacceptable, union chairman Henk van der Kolk says in a letter to fellow union leaders, which the paper has seen.
Stock exchange
At the moment, companies and fund participants share the risk when pension cash is invested on the stock exchange.
The union says there should be ‘no doubt at all’ that earlier agreements ‘offer no basis for further negotiations’.
A senior government legal official warned earlier that such a crucial change would not be legally possible.

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