To what extent does your pension keep its value?
Whether in the future you can buy as much with your pension as now, depends on the increase of both the pension and the prices. We aim to increase your pension each year, following the wage increase. Such an increase in your pension is called indexation. This is only possible if the financial situation at Forward is sufficient. Forward was established on 1 April 2015.
To date, Forward has increased your pension as follows:
* On 1 January 2018 and 2020 no indexation was granted, because there was no pay raise in resp. 2017 and 2019. In 2018 wages were raised based on 2 different CLAs, as a result of which pensions were increased with 4.97% on 1 January 2019.
We aim to increase your pension each year on 1 January (indexing) in line with CLA salary increases, as every year money loses its value slightly. This is referred to as inflation. It is not always possible to increase the pensions. In financially hard times it might be that Forward cannot, or not fully, grant indexation. This means that your pension reduces (slightly) in value.
Please note: Forward currently has insufficient financial reserves. That is why a recovery plan came into effect in October 2020.
If you want to know exactly when Forward is able to (partially) increase the pension, please read the Uitvoeringsovereenkomst (Administration Agreement - only available in Dutch).