Sections

Dutch midwives get 2% indexation

Related images

  • Dutch midwives get 2% indexation

NETHERLANDS - The €142m pension fund for midwives has granted its participants an indexation of 2% for 2009 despite a cover ratio of 101%.

The Stichting Pensioenfonds Verloskundigen still can afford such a compensation for inflation, because it had built up a financial reserve for this unconditional indexation, a spokesman pointed out.

That said, the occupational scheme won't grant any additional indexation this year, after paying a total of 3% during each of the past ten years, he added.

The indexation applies to all the scheme's 2,900 participants, who include 369 pensioners and 752 deferred members.

According to a spokesman, the midwifes' scheme has gradually hedged its interest risk to its strategic goals of 50%.

Meanwhile, the €9bn pension fund for the printing and publishing industry (PGB) announced not to grant indexation as its funding ratio has dropped to 96.3% at November-end.

In addition, PGB has raised its contributions from 17% to 19.5%.

Anticipating the recovery plan, which it must submit to pension regulator De Nederlandsche Bank, the industry-wide scheme has decreased its equity allocation by 8% to 35%, it made clear.

The scheme for the printing industry also raised its interest hedge from 60% to 75%, while continuing its full currency hedge.

The pension fund also raised its interest hedge, while continuing its currency hedge.

Last year, PGB granted its participants an indexation of 1%, as well as a 1.09% to make up for lost indexation during previous years. So far, its participants have not received 3.85% of indexation in total, the scheme said.

Elsewhere, the €6bn pension fund for retail staff also made clear not to have the financial margin for a compensation for inflation. The scheme declined to provide further details for now.

The Stichting Pensioenfonds voor de Detailhandel has 870,000 participants and 30,180 affiliated employers.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2572

    Asset class: High Yield Bonds.
    Asset region: Global.
    Size: $200m.
    Closing date: 2019-11-27.

  • QN-2573

    Asset class: Real Estate.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-06.

Begin Your Search Here
<