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Pension plan as of 1 January 2022

CRH has a collective defined contribution scheme (CDC scheme).
This means that your employer pays a fixed premium to the pension
fund. You also pay premium yourself.

Until 2022 CRH Pensioenfonds strived to grant an annual pension accrual of 1.875% of the pension base. Considering the interest rate developments, the accrual rate has decreased two years in a row. Based on interest rate developments in combination with the fixed premium, the old ambition accrual rate of 1.875% is not realistic anymore for the next couple of years.

For the next couple of years, the ambition accrual rate will be 1.35%. The actual accrual rate will be calculated annually, considering the agreed fixed premium, the premium policy of CRH pension fund and legal frameworks. Because of increased interest rates and a higher pension premium, the actual accrual rate is higher than the ambition accrual rate in 2022. The actual accrual rate will be 1.50% for old age pension and partner’s pension will be 70% of the old age pension.

The annual pension accrual is funded by the pension premium that the employer and employees jointly pay to the pension fund.

At the beginning of 2023, the Board will again assess whether the fixed premium is sufficient to pay for the intended pension accrual.  

More information about your pension scheme
For more information about your pension scheme, please find more information below:

- Letter March 2022: Amendments to scheme 1 per January 1st, 2022
- Letter March 2022: Amendments to scheme B per January 1st, 2022
- Pension 123 Layer 1 scheme 1
- Pension guide for pension scheme 1 (2022)