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.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.