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NN Group: PFI pension fund

 

Many NN employees have built up part of their pension when NN and ING were still one company. These pension funds are managed by the PFI pension fund.

Project adjustment of the administrative and technical system of the Pension Fund ING

PFI carries out a large number of different schemes. PFI has indicated that it is necessary to standardize and standardize the number of pension schemes. Implementation can then be simplified so that the risk of errors is reduced and administration costs are reduced. The intention is to only adjust the pension scheme where this is strictly necessary to achieve the goal of future-proof implementation.

Consult PFI and De Unie

The preliminary investigation by PFI has now been completed. PFI is now in talks with social partners about the changes they want to make. We discuss all proposed changes. De Unie first checks whether the proposed change can be implemented within the pension scheme. If possible, PFI can in principle make the decision itself. If the change is disadvantageous for the employees or other participants, we will agree to compensation. A small part of the proposed pension changes require a change in the pension scheme. De Unie will submit a change in the pension scheme to the members.

Summary of the changes

Currently PFI administers about 200 different types of pension. They want to reduce this to 40 pension types in 1 scheme.

  • 3 unify death benefits.
  • Fixing different forms of premium compensation and converting it into old-age pension.
  • Uniform supplements for temporary retirement pension.
  • Converting a Married retirement pension into an OP scheme.
  • There will be 1 retirement age, namely 65 years.
  • The future accrual for disabled participants will be harmonized.

Progress of the consultation

Op 26 September 2019 heeft De Unie re-consult with PFI about this project. We therefore discuss how employees are given an explanation of the consequences for their own pension. We will de Uniemembers again afterwards.

Contact

Are there any questions about this post or is there information to deal with De Unie to share? Please contact me, advocate Inge de Vries, by e-mail inge.de.vries@unie.nl or call 06-5252 2091.