Discounts threaten to large pension funds – Telegraaf.nl

Amsterdam –

The big pension funds warn that reductions in pensions suspended in the air. In 2016, such an intervention is not necessary, but the financial position of the funds has become so uncertain that the largest Dutch pensioenuitkeerders, ABP and PFZW, hand for next year no longer dare stabbing in the fire.

Photo: MARCEL VAN HORN

,, The chance that we have to curtail increases in 2017, ” said Corien Wortmann-Kool, president of the civil fund ABP. ,, We understand that older people are worried about the amount of their pensions and that young people are wondering how much pension will remain for them. ”

Care Fund PFZW has a similar message. The danger of cut lies in wait as the interest rate plunges and the investment yield this year is not enough returns to compensate for a few things.

The large metal funds PME and PMT, where also many Dutch are connected, are bleak. Indexation ,, the coming years and really did not expect a reduction of pensions is due to the lack of recovery closer, ” said PME director Eric Uijen. The president of PMT, Jan Berghuis, the situation takes only difficult to explain to its members.

The problem is that obtaining the funds too little return on equity, while their liabilities by low interest rates significantly in value have increased. According to the rules they must therefore working on recovery plans to be for real financial need, although they still manage billion abilities.

How a fund is doing, is shown using the so-called policy coverage. Who failed to ABP in the fourth quarter of last year from 99.7 to 98.7 percent. PFZW deteriorated in the gauge of 99 to 97 percent. PME and PMT now sit on, respectively, 97.7 and 98.5 percent. Thus they are below the required level. From the great state funds only bpfBOUW still reasonable for with a score of 110.9 percent.

In the fourth quarter, the fund performed a little better than in the previous quarter, but not nearly enough to make the year. The sector has now established the hope for stronger recovery of the economy, which means extra yield for the funds. The last time a sizeable group of funds had to reduce pensions was two years ago

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