Monday 18 October 2021

Government partly to blame for ABP problems, says former fund boss

The government withheld €25bn from the reserves of the civil service pension fund in the 1990s, making it partly responsible for the fund’s current problems, former ABP investment head Jean Frijns has told a tv show.

ABP has announced it will not be increasing pensions next year but is increasing premiums because the fund does not have enough reserves.
According to the Volkskrant, Frijns told tv current affairs show KRO Reporter the government had failed to pay €15bn-worth of premiums to the fund by the time it was made independent in 1996.
A further €10bn was spent by the government on early retirement schemes, even though the money had been earmarked for regular pensions, Frijns, now a professor at the VU university, said.

Thank you for donating to

The team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments. has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.