News release

Adjusting pension regulations to account for falling consumer prices

26 March 2024

Consumer prices fell nearly 2% between October 2022 and October 2023. As a result, we were unable to increase pensions. However, when prices fall, our rules also do not require us to reduce (future) pensions. Until recently, however, our pension regulations did require that in the event of a subsequent increase, we first offset the price drop against this increase. In that case, we could increase pensions less.

However, we recently changed our rules. A fall in prices will now be set off against the supplements not granted in the past (catch-up supplement) instead of against a future increase. The 2% fall in prices will therefore be offset against the catch-up supplements.

This has since been adjusted in the pension regulations.