Published on 29 June 2020

News update on coronavirus

Due to the recent developments in regards to the coronavirus, Bpf Koopvaardij has prepared the following important information.

What does the coronavirus crisis mean for our financial situation?
The financial situation of virtually all pension funds in the Netherlands has deteriorated recently. A major cause is the coronavirus crisis and its effects on the financial markets. Bpf Koopvaardij is also experiencing the financial consequences.

The funding ratio is the financial indicator of a pension fund. If the funding ratio is 100%, the pension fund has precisely the amount of money required to pay out all current and future pension benefits. The higher the funding ratio, the better the financial situation. Over the past period, the funding ratios of pension funds in the Netherlands have fallen, including those of Bpf Koopvaardij. The stock markets are being hit hard by the uncertainty surrounding the virus. Pension funds, as major investors, are suffering from these price falls. The persistently low interest rate also plays a role.

We are closely monitoring current developments on the financial markets. Our focus is on the long term. From this point of view, we will be taking measures as soon as needed, for example with regard to the investment portfolio. For the time being, there will be no consequences for the pensions. At present, Bpf Koopvaardij still has sufficient reserves.

Read more about our funding ratio.

The payment of your pension will continue as usual
Do you receive a pension from us? Your pension will continue to be paid on the usual dates. Your pension will be on the usual day or one day later on your bank account. Sometimes there is a delay of one day.

The coronavirus has no effect on pension payments for surviving dependant
Some media outlets have been reporting that certain pension funds will not pay out pensions for surviving dependents, if you pass away from the coronavirus. This is not the policy of Bpf Koopvaardij. Bpf Koopvaardij will pay these pensions out in the usual way. The coronavirus has therefore no effect on pensions for surviving dependents. The requirements in regards to occupational disability also remain unchanged.

No visitors
In addition we will not be accepting any visitors temporarily. This means that we unfortunately cannot be of service to you at our physical offices. If you do have a question for us, do not hesitate to contact our Servicedesk.

Life Certificate (Attestatie de Vita) will be requested again from July
If you are receiving a pension and you live abroad, it was more difficult as a result of the coronavirus outbreak to have your Life Certificate completed by the local authorities, the municipality or a civil-law notary. That is why we decided not to request it from you until 1 July and to continue your pension benefit payment. Now that most countries are announcing a lockdown relaxation, we are restarting our request for the Life Certificate. You will receive a personal message from us about this.

If it is not possible to have your Life Certificate signed, contact us.

In the case of any further developments, we will inform you via the website.