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Home » Expats and retirees » Retirement » Pensions from ABP, PfZW, PMT and PME will not be increased again next year
The pension funds are doing slightly better thanks to good investment results and higher interest rates in 2017. Small funds can again partially index. This is reported by De Nederlandsche Bank (DNB).
Unfortunately, most pension funds, including the four largest, ABP, PfZW, PMT and PME, still lack sufficient equity to index. As a result, there is no indexation for almost 13 million participants in pension funds this year. For 10 million members of this group, there is even a threat of an extra reduction on top of not indexing in 2020 or 2021, if the financial position of their pension funds has not improved by then.
Many funds are mainly dependent on their investment results. Better results should increase the funding ratio, but if that does not work, the pensioners will be left behind.
Source: NOS.nl and DNB
The collective assets of the pension fund before the crisis in 2008 were 685 billion, and now just under 1335 billion… why not index or even cut!!
How much do you think, Jack, was put in from new entrants between 2008 and 2018? Wouldn't you add that to the 685 billion?
And then don't count the annual expenditure of 35 billion?
I suspect that the pension funds mentioned, although not the smallest ones, lack sufficient knowledge. They're just messing around, it seems. Civil service? Government supervision insufficient? I have a pension from ING that is indexed every year. The last 10 years too! The coverage ratio of the ING pension fund is always above 140%. The pension funds mentioned barely achieve 100%. There is clearly professional management at ING.
If Greece has to borrow 6 billion, the whole of Europe will be turned upside down. Recently saw a broadcast where the pension funds were held up to the light. What a member of the board of directors there earns per year, I will not get paid in pension for the rest of my life, even if I live to be a hundred.
In cash 1335 billion, 1335, 1335,1335, you can feed the whole world, so to speak, for 10 years. We sometimes talk about corruption in Thailand here in this blog, I think we are no better.
You might expect that larger funds incur lower costs per participant, and should therefore achieve better results, than the smaller funds.
As a result, there is no indexation for almost 13 million participants in pension funds this year….Have we become a country of pensionistas…Is there only 4 million left who will be indexed will it start from baby age?
I'm happy with my ABP They still get much better results than when I try it myself. Invest 1000 euros yourself and see how easy it is to achieve substantial returns in a legal way. The land of complainers and bunglers .... so we 🙂 The best helmsmen ...
Well George, the pension fund employs financial specialists or the participants' deposits are outsourced to foreign institutional investment funds. We are paid unimaginable amounts for their work. Given their knowledge and resources, you would expect that they indeed get a higher return on the € 1000 you mentioned than you and me. There are currently 1335 billion euros in the joint pension pots. This year, the participants will invest 35 billion while 30 billion will be paid out. In the future, the contributions will decrease, partly due to the increase in the number of self-employed persons without employees, and the amount of the benefits will increase. Nevertheless, there will be enough in the pension pots for future generations to be assured of their benefits. And that is due to the return on investment results. Over the past 40 years, they averaged 6% and, given history, that percentage will not differ much for the next 40 years. The fact that there will again be no indexation for the majority of pensioners in the coming year (for many for the 10th or 11th time in a row) is due to political rules, while the money in the pot only grows. Those are the facts George and stating the facts is separate from complaining. The fact that you also call your compatriots bunglers makes no sense at all. Worldwide, the Dutch have expertise in water management, dredging, agriculture and horticulture, solar energy, etc., and yes, in terms of helmsmen on the canal, the Dutch also stand their ground (nowadays also women), although that was not what you meant. You are happy with your ABP, your right, but after years of surrendering I would finally like to stay the same in terms of income to be spent by indexation of my pension. The money is there but the political will is lacking.
george
Report from the DNB the day before yesterday. Funding ratio ABP 101,5%.
So you will soon also be cut back on your pension, after all, the funding ratio is too low.
I find it unbelievable that such an organization with so many so-called 'experts' is not able to achieve a reasonable result in good years, when a simple person already gets 5% on his savings account.
But yes, if you read the fees that the top gets, then you know that self-interest is also more important here.
Dear Brabant man.
Get 5% on your savings account as a simple person.
Tell me at any bank anywhere, I'm also a simple person but I haven't seen 5% interest or anything close to it in years.
You can still be happy today if you get a 0,5 % .
And with equities it is not so easy to achieve a return of around 5% on the portfolio
Ben is curious.
Jan Beute.
Janbeute
If you had read my entry more carefully, you would have read that I spoke of the 'good years'. I'm not talking about 2018.
This inability to increase our pension is due to government meddling. If they had stayed away from it with their stealing, there would be quite an increase, according to the pension funds. They had to change the rules if necessary.
There is, of course, something strange going on with pension funds.
There is always talk of future generations.
The money in the pension funds does not belong to future generations at all.
All money in the pension fund is jointly owned by everyone who is currently a member of a pension fund and no one else.
-This is separate from members who have died in the meantime, whose heirs could possibly have a claim on the pension fund.-
All that money could be distributed pro rata to the current participants.
Only in practice it works differently.
A gigantic buffer of money has been built up from the premiums and the investment results for people who will become members of the pension fund in the future, in order to finance their benefits.
As a result, current members receive less money than they are entitled to.
Not that those future members will benefit from this, because the same buffer will then be passed on to the next generation of members.
Only they probably have to contribute less to building up that buffer, because that has already happened in our generation.
Who runs off with the money when the last member of a pension fund has died (the last printer of a paper newspaper, for example) I do not know, but it seems to me that there is a reasonable chance that the money in the coffers of the government disappears.
These were the successive chairmen of the board:
Bert de Vries from June 1997 to September 1, 2001 (part-time)
Elco Brinkman from September 1, 2001 to April 1, 2009 (part-time, on average 1 day a week)
Harry Borghouts from April 1, 2009 to August 1, 2009
Ed Nijpels from August 1, 2009 to February 19, 2011.[68]
Henk Brouwer from 1 January 2012[69] to 1 June 2014.[70]
Corien Wortmann-Kool as of 1 January 2015[71] (source: Wikipedia)
If you see the professions of some before they became board presidents, you get an idea of it
“failure” of the ABP. Elco Brinkman, Ed Nijpels, Harry Borghouts were political figures who had no understanding of pensions. Favoritism? Who knows may say.
The ABP pension fund, from which I also receive my contribution, has always supported the cabinets. Over the years, a lot of money has already been diverted from our fixed-income pensions. The ABP has become a characterless club, which is not even able to respond to my letter of complaint. I've been waiting for over two months. I think this has now ended up in the trash. This is how the customer is treated. Well, he's definitely not a king. Despite the fact that there is a great culture of grabbing in the money world and one's own wallet is certainly not forgotten, because they have such an important job at the top if I have to believe them and given their boasting. It's the big money and big buildings, but what matters are the pensions, which we are all entitled to and which we have been told for years. The black swans program has opened my eyes and now the rest of the Netherlands has to respond en masse in the strongest possible way. We are the people and we deserve a good old age with enough money as we were promised. It is too sad for words that we have to talk about it all the time and that the VVD cabinets consider it more important to provide the big money with the necessary things instead of the old-timers.
https://www.maxvandaag.nl/maxpensioenmanifest
Watch the episode of broadcaster Max "the black swans" again, you can see that the banks worldwide are scamming everything