This was decided on by the board on 21 November 2024. The 0.4 increase applies to everyone who receives a pension from us or who accrues or maintains pension entitlements with us. The increase will take effect on 1 January 2025.
Our chairman Jochem Dijckmeester says the following about the increase: "We would love nothing more than to increase our participants' pensions each year. This way you can continue to do the same shopping with your pension, now or in the future. Even when everything becomes more expensive. Over the past 3 years, we have been able to gradually increase pensions by a total of 15.2%. Now, for the 4th year in a row, there is room for an increase, albeit modest. When the board took this decision to increase, we carefully balanced the interests of all participants of Pensioenfonds PGB. This is because an increase should benefit everyone who accrues or receives a pension with us, now and in the future."
To determine the maximum amount by which we can increase pensions, we first look at the average price increase (inflation) over the past period. This was 1.5%. By how much we can increase pensions also depends on our financial situation. To this end, we look at our coverage ratio as at 31 December 2024. The coverage ratio indicates our financial position as a pension fund. This means whether we have sufficient assets to continue to pay pensions in the future. To be able to increase pension payments in small steps, we need a coverage ratio of at least 110%. On 31 December 2024, we expect our coverage ratio to be approximately 116%. According to the statutory rules, we can therefore increase pensions by 0.4%.
The board always carefully considers how much pensions can be increased in relation to how strong its buffers (financial reserves) must be. These buffers are necessary to absorb investment risks. The buffers ensure that we do not have to reduce pensions immediately after an investment loss. It's important for all our participants that Pensioenfonds PGB remains financially healthy and that it doesn't have to reduce pensions. The increase of 0.4% is a balanced choice for all our participants.
Read here for more information about the considerations and consequences of the increase for all participants.
We would like to include you in our decision regarding the increase. You can read more information about the increase in 2025 on our special web page. Here you will also find our answers to frequently asked questions.
Please send an e-mail to ks@pensioenfondspgb.nl and use ‘increase 2025’ in the subject line. We are happy to help you!