The interest also has a negative effect on the value of the pension liabilities. The pension liabilities increase when interest rates fall. With a lower interest rate, you have to reserve more capital in order to be able to meet the pension obligations in the future. This can also be seen in the low (policy) funding ratio. Because the pension capital has decreased and the pension liabilities have increased, this mutual relationship is different, resulting in a low (policy) funding ratio.
We look back on three days of great conversations and informative webinars in which we took a total of 341 live viewers through the transition to the new pension scheme. We have noticed that pensions are not an issue for everyone, but when we talk to colleagues, questions do arise.
The new pension scheme is a solidarity-based contribution scheme. An important and mandatory element of this scheme is the solidarity reserve. The solidarity reserve is a separate reserve that protects the pension benefits. The solidarity reserve has two objectives:
On November 12, 13 and 14 the annual Three Days of Pensions will take place. During these three days, we will organise various (online) activities where we will tell you more about the pension scheme we have at HEINEKEN and the upcoming changes to the pension scheme and what this means for your pension at HEINEKEN.