On October 15, the Social Partners sent a letter to Dutch pension funds - the wealthiest in the world - to warn them against "hasty actions" because of the crisis. On October 13 already, the central bank of the Netherlands (DNB) warned pension funds for the same reasons. (Ref. 080807)
Since January, these funds lost €100 billion out of the €700 invested (four times Greece’s GDP). On October 13, the largest pension fund in the country, the ABP pension fund, which manages civil servants’ pensions, went below the fateful 105% ratio between investments and pensions to pay, imposed by financial authorities. ABP’s losses amount to €38 billion since January, out of €170 billion invested. The 2.5 million members of ABP are going to pay for the risks taken by their fund. In 2009, the
…You are reading this article thanks to your subscription to Mind Retail.
Explore new horizons by checking out our other verticals:
Do you have information to share with us?