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Increasing or decreasing my pension

The aim of the Board of Pensioenfonds PGB is to grant pension increases. However, whether or not we can increase your pension depends on our financial position.

Unfortunately, there is little chance that your pension will increase in the coming years. This is mainly because our coverage ratio  is too low. The Recovery Plan, compiled by Pensioenfonds PGB, includes an explanation of the extra measures that Pensioenfonds PGB intends to take to ensure that the coverage ratio returns to the statutarily required level. If you would like to know more about this, please refer to our Recovery Plan.
 

When do we increase your pension?
Every year the Board decides whether your pension wil be increased. To this end, the Board considers the policy coverage ratio. That is the relationship between our assets and the pensions we have to pay out. In this context, the Board adheres to the guideline ‘Coverage Ratio and Pension Growth’. Although, the Board may deviate from these guidelines.

If our coverage ratio is below 105%?
Your pension will not be increased. It could even be decreased.

If our coverage is ratio between 105 and 110%? 
Your pension will not be increased; and, potentially, it could be reduced.

If our coverage ratio is between 110 and 130%? 
Your pension will be increased by between 0 to 2%.

If our coverage ratio is higher than 130%? 
The first step, after the pensions are increased by 2%, will be to reverse any reductions applied in the past. Only after the reversal has been implemented, will it be possible to increase your pension further, and then only by a maximum 1%.

Please note: are you building up pension capital? Then your capital is not increased. You will receive rate of return.
How have we increased your pension in the past years?
- In 2017, your pension was not increased. The prices increased then by 1.38%
- In 2016, your pension was not increased. The prices increased then by 0.19%
- In 2015, your pension was not increased. The prices increased then by 0.71%.
- In 2014, your pension was not increased. The prices increased then by 0.96%.
- In 2013, your pension was not increased. The prices increased then by 2.81%.
When must we decrease your pension?
Our policy coverage ratio is lower than 105% for more than five (5) years.
The Board is of the opinion that it will be more than ten (10) years before the policy coverage ratio rises above 121% again.

If there is chance of a reduction and it is actually implemented, we will spread the reduction over ten (10) years. A reduction is applied to all (accrued) pension claims and pension payments.


 

 

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