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Tsunami appeal hits problems

An initiative by PGGM and ABP for a support fund for elderly victims of the Asian tsunami disaster has received a negative response from members.
A main member group within health care scheme PGGM opposes a relief fund on the grounds of principle. The national union of pension holders has described the initiative as ‘patronising’.
In the meantime approximately 2,000 of the 1.2m individual PGGM members have turned down the proposal of their scheme. “Either they disagreed in principle or they objected to the way the idea had been put forward to them,” said scheme spokesman Alfred Kool. For cost-saving reasons the scheme asked its members only to respond if they do not agree, instead of mailing all of them.
“Apparently there are still many more members who do agree. But before a final decision will be made in early April, our account management will consult several hundreds of the largest participating institutions,” Kool stresses.

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