Conditional Indexation 2014
The Board has decided to increase the retirement pension and partner’s pension by 0.4% as of July 1, 2014. The ‘chosen’ temporary pension up to the age of 65 pursuant to Regulations V will also be increased by 0.4% with effect from 1st July 2014. The price movements over the period from March 2012 to March 2013 amounted to 0.4%. We can therefore conclude that the Pension Fund has realized its ambition.
As of July 1, 2012 no indexation was granted, in line with the indexation policy. The missed indexation amounted to 2.2%. The indexation policy makes provision for the circumstance in which the Board may decide retroactively to (partially) grant any indexations unallocated or only partially granted in the past, if the financial resources so allow.
The Board has decided to grant half of the unallocated indexation in 2012 for future payments from July 1, 2014. Various considerations came into play when this was decided. Up to and including 2017, the Board may still decide to grant, fully or partly, the remaining unallocated part of the 2012 indexation, if the financial position of the Pension Fund allows. The indexation letter that all retirees and former participants will receive shortly contains all information on the adjustments per 1 July 2014.
You can find all conditional indexations over the past 10 years in the historical overview in the back of the brochure ‘2013 in brief’.