Recovery plan submitted

The fund has submitted a recovery plan to De Nederlandsche Bank (DNB) at the end of September.

Why did the pension fund submit a recovery plan?

The pension fund has submitted a recovery plan, because its policy funding ratio on 30 June 2020 (of 113.1%) was lower than the required funding ratio (114.8%). This means that according to these rules, the pension fund’s financial buffers were not sufficient on this date. The pension fund needs to have these buffers, as the future is uncertain. This means we ensure that we can still afford to pay everyone a pension even in case of financial setbacks.

What is in the recovery plan?

The recovery plan is a projection of the current policy into the future. It shows how the pension fund will again have sufficient financial buffers within 10 years. The policy funding ratio will then be at least as high as the required funding ratio. The pension fund expects to return to this position in 2022.

How can I keep up to date with the financial position of the pension fund?

We keep you updated on the pension fund’s financial position through this website and our digital newsletter.