How certain is your pension?

What risks are there?

The level of your pension is not fixed. It is possible that your pension will not increase with the rise in the consumer price index (CPI). This is because the Heineken Pension fund has to deal with, among others, the following risks:

  • On average, people are living longer. This means that we have to pay pensions for a longer period.
  • Low interest rates make pensions more expensive. This means that the Heineken Pension fund needs more money to be able to pay the same pension.
  • The accrual percentage of 1.85% is not fixed. Under certain circumstances it can be lowered.
  • The results of our investments may be less than expected.

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Index-linked pension

The value of money decreases every year because of the rise of the consumer prices. We seek to increase your accrued pension by the level of the rise of the consumer price index (CPI). This is known as indexation. Whether and, if so, to what extent pensions will be increased by indexation depends on the financial assets of the Heineken Pension fund. The last three years the indexation is as follows:

  • 2021: 0.00 %
  • 2020: 0.00 %
  • 2019: 0.61 %

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What if there the financial buffers are insufficient

Because we have insufficient financial buffers, we have a recovery plan with the following measures:

  • We do not (fully) increase your pension by means of indexation
  • In the most extreme case we reduce your accrued pension

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