That was the decision made by the board on 16 November 2023. The 5.2% increase applies to all (former) participants, (former) partners and pension recipients of Pensioenfonds PGB and will come into effect on 1 January 2024.
We carefully weigh the interests of all participants in our decisions
Our chairman of the board Jochem Dijckmeester commentates about the increase: “I’m pleased there’s room for an increase for the third year in a row. When the board took this decision, we balanced the interests of all participants of Pensioenfonds PGB, young and old, and looked to the future. We also took the transition to the new pension in 2027 into account. An increase should benefit everyone who accrues or receives a pension with us, now and in the future.”
Our ambition is an inflation-proof pension for all our participants
Inflation-proof means your pension grows with price increases. This way, you don’t lose any spending power. We carefully examined and weighed up the various options for increasing pensions. That was quite a difficult puzzle. You can read more about these considerations in Jochem Dijckmeester’s column.
From reference point to annual average
Last year, our board checked September’s inflation figures to determine the increase. The inflation figure indicates how much prices have risen at a certain point in time. This snapshot always gave a good idea of the price increase in a particular year. The board views and expects inflation to be unpredictable for the period up to 2027. It varies from year to year and even from month to month. For a controlled course of events, we therefore no longer look at September’s inflation figure (which was -1.4%), but the average inflation over the past year. This means there is room for an increase in pensions this year. . There is a good chance that the annual average will be lower than the inflation figure at the time the decision is made. The board took this into account in its choice as well.
Watch the explanation in the video of Jochem Dijckmeester
We are happy to include you in our decision about the increase. You can view this explanation in Jochem’s video on this page. Of course, our digital newsletter also provides more information about the increase.
More good news: the premium you and your employer pay remains the same
The pension premium for 2024 will not be increased, but will remain 28%, just like in 2023, and that is positive news. The board is still considering which premium policy will apply for the next few years until 2027. Want to find out more? Please read this news item.
Want to know more about the background of the increase?
Please consult our answers to the Frequently Asked Questions. Alternatively, you can read this previous news item.
Do you have any questions?
Just send an email to ks@pensioenfondspgb.nl and use ‘increase 2024’ in the subject line. We’ll be happy to assist you.
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.