How secure is your pension?

The amount of your pension is not fixed. A pension fund has to deal with risks that can affect the amount of your pension.

For example:
•  The average age of people is increasing. As a result, we have to pay their pensions for a longer time.
•  A low interest rate makes pensions more expensive. As a result, our pension fund will need more money to pay the same pension.
•  The investments may have disappointing results.

In layer 2 - click on the icon - you can read more about our financial situation and the policy funding ratio. If these are poor, your pension may become lower.

Money loses value (nearly) each year. That is why we try to let your pension develop in line with the prices.

Career average pension scheme
In the career average scheme APF Pension Fund tries to increase the pension each year. This is possible only if our financial situation allows for it. We try to let your pension grow in line with the increase in prices. We decide each year if we can increase your pension and by how much. Unfortunately, we have not been able to fully increase the pensions each year over the past few years.

We increased your pension by 8.73% as of 1 January 2023
Part of this increase was the result of a temporary statutory measure, which allows us to already increase the pensions with a minimum policy funding ratio of 105%. Normally, this ratio is 110%. Between September 2021 and September 2022 prices have risen by 0.21%.

Over the past 5 years, we have made these changes to the pensions in the career average pension scheme
The table below shows whether an increase in prices has been compensated by an increase in the value of pensions. The indexation decision until 1 January 2020 is still based on the goal to increase your accrued pension in line with the increase in salaries.

*The increase in prices in the period from September of the year prior to the year in which the indexation has been granted compared with the increase in prices in September of the previous year. The indexation decision until 1 January, 2020 is still based on the goal to increase your accrued pension in line with the increase in salaries.
** Part of this increase was the result of a temporary statutory measure, which allows us to already increase the pensions with a minimum policy funding ratio of 105%. Normally, this ratio is 110%.
*** This increase was the result of a temporary statutory measure, which allows us to already increase the pensions with a minimum policy funding ratio of 105%. Normally, this ratio is 110%.

You participate in the defined contribution scheme
Your pension capital in the defined contribution scheme is not increased by (annual) supplements/indexation.

Your future pension will depend mainly on:
•  the deposited pension contributions
•  the investment returns
•  the pension capital on the retirement date
•  how much pension you can purchase with your capital

If you already receive pension from the defined contribution scheme, or if you no longer participate in this pension scheme and have already purchased pension entitlements with your pension capital, each year the pension fund will try to let your pension entitlements – or pension in payment – grow in line with the increase in prices over the period September – September of the previous year. The maximum increase is 4%.

If we have a deficit we may have to take measures. These are listed in a recovery plan.

Examples of measures for the career average pension scheme:

•  Your pension will not grow (entirely) in line with prices.
•  Your pension will decrease. This only happens if we have no other options.
•  Your premium will increase.