The Dutch pension funds of Achmea Group, tank storage company Vopak and chemicals company Huntsman have announced partial indexation of pension rights.
The €6.2bn Pensioenfonds Achmea said it would grant its workers inflation compensation of 1.54%, drawn on the salary index.
Its pensioners and deferred participants are to receive an allowance of 0.21%, based on the derived consumer index, which does not take into account product-related taxes, such as VAT, or consumption related taxes, such as road tax.
The €505m Pensioenfonds Huntsman Rozenburg is to grant its active participants an indexation of 0.46%.
This percentage consists of an unconditional indexation of 50% – based on the consumer index – plus a conditional allowance of 0.13% drawn on the scheme’s financial position.
The former workers and pensioners at Huntsman Rozenburg can expect a conditional indexation of 0.18%, following the derived consumer index.
The pension fund’s official ‘policy funding’ stood at 113.8% at January-end.
The €1.1bn Pensioenfonds Vopak announced a partial inflation compensation of 0.24%, based on the consumer index.
It indicated that the level of indexation for its employees still had to be established.
Under its current rules, workers can expect an allowance of no more than the difference between the consumer index and the salary index.
The indexation for its active participants is to be paid from a special reserve, funded through a 1% levy on pension contributions.
The policy coverage of the Pensioenfonds Vopak was 115.8% at the end of January.