Pension funds and the central bank are embroiled in a dispute about the looming cuts which many funds may be forced to introduce because of stock market developments, the Financieele Dagblad reports on Tuesday.

The paper says the funds want to take ‘more gentle’ steps to reduce their shortfalls, but the central bank says tough action is inevitable if interest rates remain low until the end of the year.
The central bank wants to talk about the way the bad news will be announced, the paper says, quoting inside sources.
2013
In September, it emerged 207 of the country’s 468 pension funds did not have enough assets to meet regulatory requirements. If that remains unchanged by the end of the year, action will have to be taken, the paper says.
This means either employers or workers will face higher premiums or pay-outs will have to be cut from 2013. A decision on what needs to be done will be taken in January.
Last weekend, the NRC reported that 150 funds are in such a serious financial position that they will have to take steps to shore up their assets.