This year, the costs of pension funds are rising more than ever. An increase of 10 percent or more is the rule rather than the exception, according to the annual survey of FD and PensioenPro to the contributions of the various pension funds.
In addition, employees at many funds also receive less pension. The reasons for this are the low interest rates and the lower expected returns.
The survey shows that pensions have become more expensive at 39 of the 44 industry-wide pension funds. According to it FD the contributions at those funds increase, participants receive less pension accrual or even both. This disadvantages approximately five million working Dutch people.
Pension advisers say in the newspaper that this year’s increases are unique. “We have never seen this before”, says Jeroen Koopmans of pension advisor LCP.
Most funds now charge a premium of 25 to 30 percent. As a result, a Dutch employee works more than one and a half days a week for retirement, says a pension adviser in the newspaper. Five years ago, the premium was still around 20 percent.
Last year, outgoing Minister Wouter Koolmees (Social Affairs) and social partners appealed to the pension funds not to change the contributions too much. However, pension funds state in the newspaper that – based on current legislation – they had no choice.