The Staples Pension Fund Foundation board has decided that pensions cannot be increased in 2024. We understand that this is disappointing news. Therefore, we would like to explain why this decision was made.
Staples Pension Fund tries to increase pensions (both pension rights and entitlements) each year by a maximum of the price development, as determined by the CBS. In doing so, we also take into account the fund's financial position.
Although the fund's financial position would allow for partial indexation (at the end of November the policy coverage ratio was 122.7%), consumer prices did not rise in the period between October 2022 and October 2023, but actually decreased by almost 2%.
As a result, there is no possibility of increasing pensions in 2024.
For our members, the derived consumer price index is the starting point for increasing pensions. The board considered whether pensions could still be increased by deviating from our indexation policy, but saw no possibility to do so.
The indexation policy states that we do not have to reduce pensions if consumer prices decrease. That, in turn, is the good news. Your pension will therefore remain the same in 2024 and will not be reduced.