NETHERLANDS - Pension funds failing to meet coverage ratio requirements will be able to postpone the proposed premium increase until 2012, the Dutch central bank said.
Pension funds will have to notify De Nederlandsche Bank by the end of the year if they want their premiums postponed. In order to qualify, funds are required to submit a detailed structure of their investments by the end of 2010 and 2011 confirmed a spokesman from the Dutch central bank.
Over one third of pension funds (233) failed to meet a regulatory minimum of 105% in the second quarter, said the bank which oversees 600 Dutch pension funds.
The premium increase has been proposed to offset the current higher living index. The amount of increase will be set by the organisation, employers and employees and depends on the fund itself, he added.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.