How secure is your pension?

Your pension is not certain. Your pension may not increase in accordance with price rises. Risks may arise for your pension. For example:

• The average age of people in the Netherlands is increasing. As a result, we have to pay their pensions for a longer time.
• A low interest rate makes pensions more expensive. As a result, our pension fund will need to be better funded to be able to pay the same pension.
• Our investment results may be disappointing.

In layer 2 you can read more about our financial situation and the policy funding ratio. If these are poor, your pension may become lower.

Each year we try to increase your pension in line with the increase in wages. This is referred to as indexation. Pensions will only be increased if the pension fund’s financial situation is sufficient. As of 1 January 2023 the pensions over 2022 have been increased by 5.12%. Over the last 5 years the pensions have been adjusted as follows:

If there is a deficit
If we have a deficit we may have to take measures. These are listed in our recovery plan. For example:

• Your pension will not grow (entirely) in line with prices.
• Your pension will decrease. This only happens if we have no other options.

In layer 2 you can find more information on the financial situation, the policy funding ratio and the possible consequences for your pension.