Every year, we recalculate whether we can increase your pension to keep up with rising prices. To establish whether prices have gone up, we take the consumer price index for households in the Netherlands as published by Statistics Netherlands (CBS). The price index for June 2024 was higher in comparison with that of October 2023. We take the period running from October to October of the current year to determine price increases. If the price index in October 2024 is still higher than in October 2023, we will probably be able to partly raise your pension with effect from 1 January 2025.
From what we can estimate at present, your pension will accrue at the maximum rate allowed under Dutch tax law in 2025. In 2024, the maximum accrual rate is 1.768%. If interest rates change, the maximum rate allowed under Dutch tax law may change slightly as well. If, on the other hand, interest rates decline sharply, we might not be able to award the maximum accrual rate. We will know by the end of this year.
