December 5, 2022

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Pensioenfonds Zorg en Welzijn increases pension by 6 percent

Pensioenfonds Zorg en Welzijn increases pension by 6 percent

NOS | Helen Crete

NOS . Newsmodified

The second largest pension fund in the Netherlands, Pensioenfonds Zorg en Welzijn (PFZW), will increase its pensions again next year. From January 1, 2023, pensions will increase by six percent for participants in the healthcare and social care sector. With the relatively high rise, the fund hopes to make up for the loss of purchasing power.

The pension fund says it has taken into account not only the current high inflation, but also the poor economic prospects they say. In October of this year, pensions were already increased by 2.7 percent, based on inflation in 2021. The premium, which participants now have to pay for their late retirement, remained the same at 25.8 percent of the total salary.

PFZW has nearly 3 million participants. It seems that the financial position of the five largest pension funds has strengthened further in the last quarter From the previous numbers. Big losses in the financial markets are offset by higher interest rates. Therefore, pension benefits in these funds are expected to increase.