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Information in English

Most of our formal documentation is in Dutch. However, in this section the important information is translated in English. Please contact us if you have any further questions.  

Increase to your pension as of January 1, 2024 (indexation)
Your pension at CRH Pension Fund has been increased by 3.51% as of January 1, 2024. The board has taken this decision because the financial position is sufficient, and also because the rules for increases as a bridge to the new pension system have been eased.

The CRH Pension Fund pension scheme has a conditional indexation. Conditional means that the board decides annually whether it is possible to increase the pensions as of January 1. This depends, among other things, on the level of the policy funding ratio. This is the average coverage ratio over the past twelve months.

The pension fund expects that you will “enter” into the new pension system (i.e. your accrued pension entitlements and pension rights will be converted to the new pension scheme) and can therefore make use of the eased rules. The board took the decision to increase after it was determined that:

  • the policy funding ratio offered room for indexation at the end of December 2023; and
  • the decision is balanced for all groups of participants.

In 2023, the policy funding ratio increased from 110.5% as of December 31, 2022 to 115.5% as of December 31, 2023.

In the long term (including future increases), the increase in pensions has a positive effect for pensioners and a negative effect for active and former participants.

In recent years, the risk of pension reductions has often been discussed. Due to the improved financial position, the chance of reduction has decreased slightly, but is still present.

Accrual percentage 2024
The employer and employee pay a fixed premium to CRH Pension Fund. This means that the employer does not have to make additional contributions in bad times. On the other hand, in good times the employer is not entitled to a discount or reimbursement of premium.

Change in accrual percentage for 2024
The intended pension accrual is financed annually from the fixed premium. For the period from January 1, 2022 to January 1, 2026, an accrual percentage of 1.35% is aimed for. Depending on market conditions, this percentage can be adjusted upwards or downwards annually by the board.

For the year 2024, the accrual percentage is 1.80% (2023: 1.55%). You will therefore accrue more pension in 2024 than last year, based on the same premium. You will soon receive your Uniform Pension Overview as of January 1, 2024. The pension that you have accrued up to and including 2023 will not change due to the adjustment of the accrual percentage.

Does the increase in pension accrual only apply in 2024?
The increase in the accrual percentage to 1.80% applies to the year 2024. The accrual percentage for the year 2025 will be announced at the beginning of 2025.

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