Stichting Pensioenfonds Sportfondsen has announced a retrospective increase to its pensions has been delayed by a month.

Pensioners were set to receive a retrospective increase of 2 per cent to their pensions, dating back to 1 January this year, from July. However, the pension fund said that its administrator, Appel Pension Administration, was not able to process this in time. As a result, the increase will instead be paid from 1 August 2024.

When it originally announced the increase Pensioenfonds Sportfondsen said the increase is possible, in part, because the board has taken into account the new Statistics Netherlands’ (CBS) measurement method for measuring inflation.

“In making the decision, the board also considered the transition to the new pension system and balanced the interests of all concerned,” the pension fund stated.

Pensioenfonds Sportfondsen has a conditional indexation policy and aims to increase pensions each year by up to the percentage increase in the price index. Based on the policy coverage ratio and whether the adjustment is also possible in the future, the board decides to what extent the pension entitlements will be adjusted.

The pension fund has yet to publish its transition plan to transfer to the new Dutch pension system, the deadline of which is 1 January 2028. It said it is drafting a transition plan, in coordination with its social partners, which will be ready by 1 January 2025.

“Important issues in the process include the dispensation of Pensioenfonds Recreatie and the non-contributory reinsurance contract with Aegon,” it stated.

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