Published on 30 March 2020
Bpf Koopvaardij has insufficient financial reserves, in view of the legal requirements that apply. The pension fund must therefore submit a recovery plan to the supervisory authority, the Dutch Central Bank (DNB), before 1 April 2020.
What's a recovery plan?
In the recovery plan, the pension fund sets out the measures that it wishes to take to improve its financial position. The balance of interests for all those involved in the pension fund was carefully weighed up. Within ten years, the pension fund must once again exceed the required equity capital. As long as the financial situation remains inadequate, the pension fund must update the recovery plan every year.
What does the recovery plan mean for you?
For the time being, the recovery plan has no consequences for your pension. Should our financial situation deteriorate further, a pension reduction may be necessary. This happens only if the measures in the recovery plan are not sufficient. Reducing pensions is not an issue right now.