FNV fails to reach agreement on pensions after 10 hours of talks

Crisis talks on pension reform between trade unions affiliated to the FNV federation broke up on Monday after over 10 hours without result.

An FNV spokesman told reporters at around 00.30 hours this morning efforts to reach a unified decision between the 19 affiliated unions had failed.
The FNV and employers organisations reached agreement last year on reforming the corporate pension system but since then several individual unions have raised their objections.

Stock market

The dispute centres on guarantees about variations in the size of actual pension payments.
The deal does not include fixed guarantees, which means funds would not have to have high buffers. In addition, the size of payouts would be more flexible and more dependent on stock exchange fluctuations.
Opponents, including the FNV’s biggest union Bondgenoten, say this means pensions could be cut more quickly if the stock exchange falls, reducing security for workers.


Bondgenoten has drawn up its own plan, which it wants the FNV as a whole to agree to. If no deal is reached, the union has threatened to leave the federation.
At the same time, calls are mounting for FNV chairwoman Agnes Jongerius to stand down.

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