Pensioenfonds Metaalindustrie and Technology (PME) is increasing pensions for the first time since 2008. About 600,000 pensioners will receive a supplement of 1.29% from next month. Previously, the pension fund had to cut pensions two more times.
The fund is proud to present the increase since the indexation is based on the period from July 1, 2020 to July 1, 2021. Inflation was not as high then as it is now. “We know that this small increase is just a drop in the ocean for our retirees, who feel dizzying inflation in their pockets every day,” said Eric Uijen, PME Chairman of the Board.
Pension funds thought they could increase their pensions this year, as the funding ratio has increased recently. More pension funds are expected to announce that they will increase their pensions in the near future, partly due to rising interest rates and a relaxation of the rules as of 1 July.
ABP (Government and Education), the largest pension fund in the Netherlands, hopes to make a decision this week. Pensioenfonds Zorg en Welzijn, good for 1.2 million active participants and 435,000 pensioners, will also announce this week whether it will increase pensions.
We will have to wait until July 5 to see whether pensions for the metals and technology sector (PMT) increase. BpfBOUW hopes to be able to take an intermediate step by the end of the year.
Marike Knoef, professor of pension economics: “The financial situation of the funds has improved considerably. It’s also good news for seniors, especially with inflation now so high. “So many older people struggle with it,” he says. at Leiden University.
follow inflation
Funds were able to increase pensions in particular as a result of the legislation that was relaxed on 1 July. Until then, funds could only adjust pensions for inflation if the funding ratio over the past twelve months was 110%. However, as of 1 July, the funding ratio has been reduced to 105%. This makes it easier for funds to allow the pension to grow in full or in part with inflation.
Source: NOS
Smith Charles is a talented entertainment journalist and author at The Nation View. He has a passion for all things entertainment and writes about the latest movies, TV shows, music, and celebrity news. He’s known for his in-depth interviews with actors, musicians, and other industry figures, and his ability to provide unique perspectives on the entertainment industry.
