How secure is your pension?

Your pension is subject to risks

The pension fund is faced with a number of risks, including the following:

  • The average age of people in The Netherlands is increasing. This means that we have to pay the pension for a longer period of time.
  • Low interest rates mean that pensions become more expensive. This means that we require more money to be able to pay the same pension.
  • The results of our investments may be disappointing.

Indexation

The pension fund tries to increase your pension each year. This is called indexation. The aim of indexation is to retain the value of your pension. Your pension will only be raised if our financial situation is sufficiently solid. The Board annually decides whether indexation can be granted.

You work for Avery Dennison
The aim is an indexation of the pension entitlements for active participants that equals the development of the negotiated wages at the employer, or - if higher - the growth of the derivative consumer price index.

You do not work for Avery Dennison anymore
The aim is an indexation of the pension entitlements for past participants and pensioners that equals the growth of the derivative consumer price index.

Increase as of 1 January 2019
As of 1 January 2019 we increased the pensions of active participants of the pension fund with 1.42% and the pensions of former participants with 1.06%.

Over the last 10 years the pensions have been adjusted as follows:

date of change
pension active participants increased by
pensions former participants increased by
increase of negotiated wages
price increase* price increase**
2018
0.47%
0.79%
1.35%
2.25%
2017
0.00%
0.00%
2.00%
0.42%
0.36%
2016
0.57%
0.13%
2.00%
0.63%
0.41%
2015
2.25%
0.75%
0.75%
1.05%
0.75%
2014
0.00%
0.00%
2.51%
1.56%
0.90%
2013
0.00%
0.00%
1.50%
2.87%
1.98%
2012
0.00%
0.00%
1.75%
2.61%
2.33%
2011
0.00%
0.00%
1.25%
1.57%
1.38%
2010
0.00%
0.00%
1.00%
0.71%
0.40%
2009
0.00%
0.00%
3.00%
2.78%
2.53%

*Source: Central Statistics Office in the Netherlands, consumer price index, October to October
**Source: Central Statistics Office in the Netherlands, consumer price index, October to October (This is the provisional figure, this figure concerns the ambition as stated above)

Over the past few years our financial situation has not been stable enough to raise your pension yearly. It is uncertain if we will be able to raise you pension yearly in the future. Your pension has not been curtailed over the past few years and we do not expect that this will be necessary during the coming years.

Also read this information
You will find all the rules in our pension regulations in layer 3. You will also read the applicable provisions for if you are no longer working with us or retire.

This is what we do in case of a shortfall

In the event of a shortfall, we will take one or several of the following measures, if necessary:

  • Adjustment of our investment policy
  • Adjustment of the pensions contributions
  • Ask the employer for a extra contribution
  • Reducing the pensions. We only do this as a last resort

Also read this information
You will find all the rules in our pension regulations in layer 3.
You will also read the applicable provisions for if you are no longer working with us or retire.