The financial position of the Netherlands' large pension funds improved somewhat in the last months of 2019, and all four large funds are now closer to reaching 100 percent coverage ration, according to the funds' annual figures, NOS reports.
The financial position of the five largest pension funds hardly changed in the third quarter, meaning that four out of the five still have a funding shortfall. This final quarter of 2016 will reveal whether the funds will have to lower pensions next year
Some 7 million workers and pensioners may well see their pensions reduced next year. The financial situation of the large Dutch pension funds dropped to critical last month, according to figures released by Aon Hewitt on Tuesday
Two-thirds of Dutch pension funds, including 4 of the 5 largest funds, are in so much financial trouble that they will have to submit a recovery plan to De Nederlandsche Bank. This involves 160 of the approximately 250 pension funds in the Netherlands. For many of these funds, this will be the second recovery plan they submit.