mast image

Special Report

Impact investing

Sections

Dutch print fund in 1.5% index move

NETHERLANDS - The €7.6bn pension fund for the printing industry, PGB, will apply an indexation of 1.5% to pension rights and benefits as of January 1 2007, it has announced.

The decision is based on a coverage ratio of 137.5%, and a cost-of-living index of 1.8%, the industry-wide scheme said. The indexation over 2006 is 1%.

The scheme's internal directive allows for an indexation of 80%, if the funding ratio is between 130% and 140%, it added.

PGB has a conditional indexation, subject to the scheme's financial position, and agreement of its board.

The pension fund has decided to set the deductible franchise at €12,880, up from €12.691 in 2006. This is the part of the salary for which pension contributions don't need to be paid, but it doesn't entitle to pension rights either.

The pension contributions for 2007 have been set at 17.5% of the pension base, which is the salary-before-tax, minus the deductible franchise. Of this premium, 6.75% will be paid by the employer.

PGB is part of the Grafische Bedrijfsfondsen, or GBF, which carries out social schemes for 3,000 employers in the graphics industry. It has 60,000 active members, 30,000 pensioners and 200,000 deferred members.

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-2543

    Asset class: Search of an Asset manager / Advisor managing / Advising a risk-based equity derivatives overlay program.
    Asset region: Global Developed Markets Equities, Global Emerging Markets Equities, Swiss Equities.
    Size: CHF 700-2100 million.
    Closing date: 2019-06-17.

  • QN-2544

    Asset class: Transitional Real Estate Debt.
    Asset region: North America (USA/Canada).
    Size: $50-100mn.
    Closing date: 2019-06-17.

  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

Begin Your Search Here
<