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Pension123 Layer 2 If the fund has a shortfall

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If the fund has a shortfall

It may the be the case that despite all precautionary measures the Staples Pension Fund does not have sufficient financial resources to be able to pay all pensions over the long term. In this case, action has to be taken.

The pension administrator’s duty then is to consider as carefully as possible what the best solution will be: increasing the contribution, not allocating surcharge or reducing the pension accrual. The board may also choose a combination of measures or make other decisions. In the worst case, the pension fund may decide to reduce your accrued pension or your pension benefit.

More information on the financial position of Staples Pension Fund is available at Funding Ratio.

Read more about reduction.

 

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