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| NEWS |
| Edition 2 | Year 2021| augustus 2021 |
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| IN This edition: |
| 1. |
2020 in retrospect |
| 2. |
Update on the national Pensions Agreement |
| 3. |
Financial position of the fund |
| 4. |
Thanks for your opinions! |
| 5. |
Pension fund passes the feasibility test 2021 |
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| 2020 in retrospect |
| The annual report of Stichting Pensioenfonds Staples has been published. If you would like to know more about what goes on at a pension fund and the things that are discussed, please read the summary annual report. |
| If you have chosen to receive information from the pension fund by surface mail, the Summary annual report will be sent out this week. The full annual report is also available on the website. |
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| Update on the national Pensions Agreement |
| The Pensions Agreement was reached last year in June. The new Act was due on 1 January 2022, but this has been deferred until 1 January 2023. Implementation was due to happen by 1 January 2026, but this will now be 1 January 2027. |
Since 1 July 2018, the Staples Pension Fund has been a closed pension fund with no further contributions paid in for further accrual of pension. Closed funds have a choice to make as to whether they will convert pensions accrued in the past into the new pension scheme (referred to in Dutch as ‘invaren’, or literally ‘sail in’).
Work on the conditions for this conversion is still ongoing, so it is not yet clear what the best option will be. For the pension fund Board of Trustees, this choice will be made on the basis of what is best for the participants in the fund.
The transition to a new pension scheme is also an important factor in the considerations relating to the continued existence of the fund. The Future Committee has been actively involved in this since 2014. Until now, continued existence as an independent fund has turned out to be the best option. |
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| Financial position of the fund |
| The policy funding ratio rose at the end of June to 120.3%. The current funding ratio has increased to 129.3%. |
The funding ratio expresses the ratio of the fund's assets to its pension liabilities. The policy funding ratio is an average of the current funding ratios over the previous 12 months.
According to the rules set by the government, our assets must be 13.2% more than our liabilities. This is expressed as a required funding ratio of 113.2%. The current funding ratio of 129.3% is substantially higher than the required funding ratio. Because the policy funding ratio is higher than the required funding ratio, we came out of recovery at the end of March 2021. |
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| Thanks for your opinions! |
| In the second quarter, you gave us an average score of 8.2 for contact by telephone. Your average score for contact by e-mail was 8.0. |
| We very much appreciate your feedback. This allows us to continue to improve our service. |
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| Pension fund passes the feasibility test 2021 |
| The pension fund carries out a feasibility test every year. The feasibility test provides information on the connection between the financial structure, the expected pension result and the associated risks. |
| The board established the (long term) risk appetite for the pension fund in 2015, in which lower limits for the pension result have been set. The expected pension result is then compared to these limits each year. The results of the test show that the expected pension result meets the previously set limits. Even in a difficult scenario, the result remains within these limits. |
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| Contact |
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| About Pensioenfonds Staples |
| Pension fund Staples has been a closed fund since 1 July 2018. The fund will continue to administer the scheme for non-contributory members and pensioners. The fund wants to offer all participants a good pension for the money they have entrusted to the fund, now and in the future. View our privacy policy to learn more about how we handle your data. |
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This message was sent automatically by Pensioenfonds Staples. You cannot reply to this email.
Do you have any questions please contact the Pension Service Department. |
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