The Pension Council has published its annual report for 2022. It was a year that saw plenty of hard work for the Pension Council, Pension Manager and Sr. Analyst J&J Pension Fund OFP.

The Pension Board is once again complete
The Pension Council is made up of both employee and employer representatives and advises the Pension Fund Board, the Central Works Council and the employers on a number of issues including the content of the pension scheme, financing plans and communication policy. It reports on these activities every year in an annual report. In 2022, 2 members of the Pension Council were replaced.

2022 was dominated by the new Pension Agreement
In addition to its usual work, the Pension Council has been involved in the Employer and Employee (E+E) work group, which was established to help prepare for the new pension system. The preparations for the new Pension Agreement, in addition to normal activities, required a lot of time and energy.

Read the E+E work group updates
In the years ahead, implementation of the new pension system will be the main focus of the Pension Council. The E+E work group will keep you informed about the latest developments and the work group’s activities. Whenever a new update is available, you will automatically receive a notification. All updates can be viewed on My Pension.

What is our financial situation?
Our funding ratio for our pension fund fell slightly in 2022 from 105.7% at the end of 2021 to 94.8% at the end of 2022. This deficit was mainly caused by low interest rates and was more than recovered by 1 January 2023 due to the rising actuarial interest rate in 2023.

Indexation advice for participants (active), former participants and pension beneficiaries (inactive)
The Pension Council reviewed nine recommendations in 2022, including three related to the indexation of active and inactive participants. The recommendations for a 14.3% indexation of active and inactive participants were partially adopted by the employers.

Curious about all the developments in 2022?
You can find the 2022 Pension Council Report in Layer 3 of Pension 1-2-3 on My Pension.