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PME increases pensions by 1.29%

Financial situation, For pensioners
Published on:

PME is increasing all pensions by 1.29% as of 1 July 2022. This includes the pensions of people who have not yet retired. The increase is a first step on the way to a new pension system. This is due to a temporary relaxation of the rules.

The increase of 1.29% makes up for the increase that PME could not make on 1 January 2022 due to the rules that applied then. PME determines the amount of the increase by looking at the average increase of prices between July 2020 and July 2021. That was 1.29%. The large increase in inflation of the last few months has not been taken into account. At the end of this year, or on 1 January 2023, PME will see if another increase is possible. The price increase between July 2021 and July 2022 will be used as the standard. Another increase depends on the financial position at the end of October 2022.

Eric Uijen, chairman of the executive board:

“We said it before - we really want to increase pensions as soon as we can. As of 1 July, it’s allowed and it’s possible. So that's what we'll do. It certainly is about time. We know that this small increase is a drop in the ocean for our pensioners. They feel the sky-high inflation in their wallets every day. So I sincerely hope that another increase is possible in six months' time. But I cannot promise this, certainly in view of the uncertain situation in the world."

PME must have a policy funding ratio (the average funding ratio over the past 12 months) of more than 105% for the pension increase on 1 July 2022. At the end of May, this was already more than 107%.

Check out the answers to the most frequently asked questions (in Dutch) about the indexation.