Good news! Maximum pension increase in 2022

Just before the holidays, let's start this newsletter with the good news. In March, there was already good news with the decision to partially increase pensions in 2022. On 10 June, the SPF board decided to grant full indexation to all participants for the year 2021 from 1 July 2022.

This decision was based on the positive development of SPF’s financial position and the new possibilities offered by legislation. Adopted at the beginning of June, the legislation lowers the policy funding level that a pension fund must reach in order to increase pensions over 2021. As a result, we can grant additional indexation as of July 1, 2022 if we meet the conditions of the legislation.

SPF aims to increase pensions every year and allow them to grow in line with inflation or wage rises. The Board carefully assessed whether SPF met the conditions required by law. A balance was also made between granting these increases now or, in view of the transition to the new pension system, keeping the money in the fund for the time being. During this process, the Board carefully balanced the interests of all members.

What is the impact of the decision?

• Former employees’ payable pensions and accrued pensions will be indexed by a further 2.81% as of July 1.
• Employees’ accrued pensions will be indexed by a further 3.34% as of July 1.
• This is a one-off decision that is within the parameters of the law.
• This additional increase is not a guarantee for an increase in the coming years.

All of our members will receive a personal message about the increase.

We wish you a very nice holiday.