News release

Extra increase in pensions: what about us?

25 August 2022

As of July 1, 2022, the rules for increasing (indexing) pensions have been adjusted. In certain cases, this may result in an additional increase this year. What about us?

Indexation possibilities are still being investigated

Currently, the indexation possibilities at IFF Pension Fund are still being investigated.

Granting an additional increase is a complex process in which we have to weigh several issues. For example, what an extra increase in pensions in 2022 means for the expected increase in pensions as of January 1, 2023, and the room that remains for the possible granting of catch-up indexation. But also how an extra increase will affect the various participant groups and generations.

Unlike many large funds, our pension fund did grant partial indexation for 2022. (1.43% of 3.28%). We will also take this into account when deciding on the additional indexation for 2022.

 

Condition of granting additional increase

In addition, the law sets a condition for granting the additional increase. The social partners must express their intention to transfer the pensions accrued under the current scheme to the new pension scheme (the so-called "in-service transfer"). This new pension scheme will be introduced in a few years' time. This decision has not (yet) been taken by the social partners.

We will keep you informed via this website of our decision regarding the additional indexation in 2022.