Wednesday 19 February 2020

Biggest Dutch pension fund does not have to cut pensions after all

Teachers' pensions will not be cut

Teachers’ pensions will not be cut

The civil service pension fund ABP will not have to cut pensions this year after all, despite warning six months ago that a cut may be inevitable.

The rise in interest rates and better returns on its investments have enabled to fund to boost its coverage ratio above the key level and so avoid reducing payouts, the fund said in a statement on Tuesday. More details will be published on January 27.

‘We must remain cautious,’ said chairman Corien Wortmann-Kool. ‘ABP may be unable to increase pensions in the coming year and we cannot rule out cuts… but we will continue to work towards improving our financial situation.’

ABP is one of the biggest pension funds in the world. It covers all public workers, from local authority civil servants to the police, and has 2.8 million members. has been free for 13 years, but now we are asking our readers to help. Your donation will enable us to keep providing you with fair and accurate news and features about all things Dutch.
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