The Netherlands’ Pensioenfonds Detailhandel to increase pensions by 10%

Dutch pension fund Pensioenfonds Detailhandel has announced that it will be increasing pensions by 10 per cent from 1 January 2023.

The pension fund for the Dutch retail industry has more than 1.3 million members.

Pensioenfonds Detailhandel employees chairman, Selam Skalli, stated that the pension fund will be working on the transition to the new pension system in the coming years.

“To ensure that the transition works out well for everyone, it is important to maintain reserves,” she explained.

“Within this bandwidth, the board has therefore come to the decision to increase the pensions by 10 per cent.”

The increase is almost in line with inflation, which amounted to 12.4 per cent in the Netherlands for the period July 2021 to July 2022.

“It is important for our participants that we can increase pensions in these uncertain economic times,” said Skalli.

“More and more people feel the rising prices in their wallets in their daily expenses. A good pension should grow with prices. Fortunately, we can now do something substantial about that.”

Several Dutch pension funds have announced that they will be increasing pensions over the past few weeks, including ABP, which will increase pensions by 12 per cent, BpfBouw (14.5 per cent), and PFZW (6 per cent).

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