De Unie, in your interest

Your collective labor agreement and industry

Contract catering: An update

October 19, 2022

Retirement

On October 17, 2022, employers and trade unions in the hospitality industry and contract catering discussed the new pension contract to be chosen. We talked about disability, possible compensation criteria and the protection, projection and excess returns. A high protection yield protects the distribution against changes in interest rates. This is especially nice shortly before retirement and fits well with lifecycle investing.

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The current pension scheme grants waiver of premium to participants who are fully and permanently incapacitated for work within the meaning of the IVA. In the event of complete invalidity, the pension accrual is also partially continued. The new structure is basically the same, but with waiver of premium instead of future accrual.

In determining the possible compensation criteria, we will for the time being assume the situation after the current pension rights in the new pension scheme have expired. In the hospitality industry in particular, there are relatively short employment contracts, so it seems reasonable to include this in the calculations as well. We take the averages of the different age cohorts of employees as a starting point in the calculations for possible compensation. Unless this results in distressing situations.

At the beginning of November, we will discuss the investment policy to be pursued, the projected returns to be used, allocation rules and cost reserve with the pension fund board. Since the treatment of the new pension law will take a little longer, we will first await the outcome before making any decisions about the pension scheme to be administered and presenting it to the various constituents.

Contact

If you want to respond to this newsletter or want to be in touch, the representative can reach Emanuel Geurts via 06-5252 2074 or via  emanuel.geurts@unie.nl. For individual advice you can contact my colleagues from the Service Center department via 0345-851 963, via email sc@unie.nl or the chat function www.unie.nl. We are happy to help you!

 

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