The board has decided to increase pensions by 8.3% as of January 1, 2023. This is a partial indexation. 

For our members, the price index, the annualised increase in prices from October 2021 - October 2022, is the benchmark for indexing pensions. This is 16.93%. The Board of Trustees decided to increase pensions by 8.3% from 1 January 2023.

To index, the Board of Trustees has taken into account the legal rules and its own indexation policy. We can only fully index at a policy coverage ratio of 151.7%. A higher interest rate leads to a higher limit for full indexation and vice versa. Interest rates have risen considerably over the past year, pushing that limit higher. Another factor affecting this is expected inflation. If inflation is higher, this leads to a higher limit and vice versa. This expected inflation is published quarterly by DNB (De Nederlandsche Bank) and has increased significantly over the past year.

At the end of November, the policy coverage ratio was 128.4%, which is not high enough for full indexation.