The largest fund in the Netherlands also increases pensions

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The ABP civil servants fund will increase pensions from next month. This is an increase of 2.39% for around 975,000 retirees who have worked as civil servants in the past, the fund announced on Thursday. With this, he joins Metaalfonds PME, which already announced an increase on Wednesday.

The increase means that those who receive 1,000 euros per month will now receive an additional 24 euros. ABP retirees will also receive an additional additional payment of 1.2% in the first six months of this year.

This is the first time since 2010 that the civil servants’ fund has increased pensions. This is possible because the rules have recently changed. Until recently, funds were required to have a policy funding ratio of 110%, but this ratio was recently reduced to 105%.

The policy’s funding ratio says something about how much money the fund has recently had and still has. ABP is well above the critical limit, making an increase possible.

For those who are still building up their pension, there will also be an increase, also of 2.39%.

The ABP says it will see if there is a further increase by the end of the year. It depends on the financial situation of the fund at the end of October and inflation this year.

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