Wednesday, February 20, 2013

Millions of Pensions will be Cut

The Dutch Central Bank has announced that 68 pension funds will reduce pensions on April 1, 2013. This involves 5.6 million participants. Of these, 1.1 million are already retired. The others are employees whose amount of pension funds will be reduced. The reductions vary form 0.5% to 7%. The general social security pension will not be reduced. The pension funds suffer from the low interest rate. It is the first time in history that so many pensioners and people employed are faced with such reductions.

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