The board of Pensioenfonds PGB has decided in December 2022 to increase all pensions by 7%. The increase will take effect from 1 January 2023. Read the frequently asked questions about the increase in pensions below.
The board of Pensioenfonds PGB has decided in December to increase all pensions by 7%. The increase will take effect from 1 January 2023. Read the frequently asked questions about the increase in pensions below.
The increase applies to everyone who receives a pension from us, accrues a pension with us or still has one with us.
To increase pensions, we look at the average price increase (inflation) over the past year. In addition, when calculating the increase, we looked at the fund’s most current coverage ratio. The coverage ratio is the ratio between our assets and the pensions we have to pay out. We have also taken into account the transition we will be making to the new pension system. As a fund, we must maintain a financial buffer for this.
From 18 January, you can see the increase at mijnpgbpensioen. This is your personal online environment at Pensioenfonds PGB.
Are you accruing pension capital in a defined contribution scheme? For example, because you work in the sea fishing or wholesale of flowers and plants sectors? In that case, you accrue pension capital with us and your pension is not dependent on the coverage ratio. This means we will not increase your pension capital. Conversely, we will not reduce your pension if the coverage ratio is too low. Your pension capital increases due to the amount you and your employer pay, and because of the investment return on your pension capital. If we already purchased a pension from your accrued pension capital or if you already receive a pension from us, that pension has increased.
The increase of 7% is independent of the earlier reduction in your pension. You received a letter from Bpf AVH about this at the end of 2020.
If you have indicated in your communication preferences that you wish to receive digital mail, you will automatically be notified when your January monthly specification is ready. This will be from 25 January.
You will receive the January monthly specification by post by the end February at the latest. The January specification can also be found at mijnpgbpensioen.nl from 25 January.
Yes. Pensioenfonds PGB will have a financial buffer left after this increase. For example, our current coverage ratio after the increase will be 111.5%, based on the UFR coverage ratio of 119.3%.
Each pension fund makes its own considerations when deciding to increase pensions. In making this decision, we look at the coverage ratio, our ambition and the new pension system and how this will work out for all generations. We take into account the previous years in which we were unable to increase, but we also have to ensure all our participants enjoy a good pension, including young participants. If we increase too much now, we may not be able to do so later, or may even have to reduce pensions because we don’t have enough reserves. The ambition of Pensioenfonds PGB is an inflation-proof pension for all participants. Inflation-proof pension means your pension grows in line with inflation.
We don’t know that yet. At the end of 2023, we will reassess whether we can increase pensions. That is only possible if we have enough money available and if this is allowed by law.
All pensions will be increased with effect from 1 January 2023.