APF Pension Fund increases pensions of all participants

The Board of APF Pension Fund decided on 5 July to grant an indexation of 2.7% with effect from 1 August 2022.

This means a pension increase for all our participants:

  • Active participants and former participants, as registered in the pension administration on 31 July 2022. They will receive an increase in all their pension entitlements.
  • From August onwards, pension beneficiaries will receive an increased benefit for all pensions from which payments have commenced.

Indexation level equals price inflation
The pension increase is based on the rules of the APF pension regulations for 2021. The level is determined by the development of the consumer price index (CPI) from September 2020 to September 2021. This CPI was 2.7%.

When making this decision, we availed ourselves of wider opportunities offered by a special Order in Council published by Minister Schouten in the Government Gazette of 9 June 2022. . The APF pension fund has carefully examined the effects for different age groups.

Effects indexation 1 August 2022 for different age groups (pdf)

Pension increase on 1 January 2023 not guaranteed
This autumn, we will decide on an indexation as from 1 January 2023. Our starting point will be the price inflation for the period from September 2021 to September 2022. As we know, the CPI for 2022 will be higher, which does not mean that we will also increase pensions by that percentage. Indexations are not guaranteed, but are conditional and depend on our financial position and prospects at the time. So we cannot make any promises about granting any increases in the future.

Preconditions for increasing pensions
In all decisions about indexation that we make as a Board in the coming period, we take into account the following preconditions:

  • Compliance with existing and new laws and regulations.
  • Balanced consideration of the interests of all participants.
  • A controlled transition to the new pension system on 1 January 2025. This intention has been laid down by the social partners as well as APF Pension Fund.
  • Advice issued by the Accountability Body.
  • Explainability and clear communication.

These preconditions allow us to ensure a careful decision-making process and consideration of the interests of all participants.