Industriens Pension Scheme Members See Pensions Increase
04 June 2012 (PLANSPONSOREurope.com) - Members of Danish pension fund Industriens Pension have seen their pensions increase by 25%.
The fund says 360,000 Danes have had their pension increase by 25% with Industriens Pension transferring DKK 13.3bn.
The transfer took place due to the fund announcing on 1 December 2011 that it would use the market rate to work out pensions and therefore no longer need the reserves to ensure members a steady rate.
The fund’s board say it was not pressed financially to implement this change and has “large” reserves and has “no trouble” dealing with the stricter solvency requirements from the EU. It added the change is only to ensure members receive the best possible plan.