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ABP recovery plan submitted to supervisory authority DNB (Dutch Central Bank) Amsterdam, 31 March 2009 – Like many other pension funds, ABP has been hit hard by the crisis within the financial markets. The fund therefore feels compelled to take measures to improve its financial position. In a so-called recovery plan, ABP has determined which measures are required to bring about the desired recovery of the financial position. This plan has been submitted to the supervising authority – De Nederlandsche Bank (the Dutch Central Bank) – for approval. In its recovery plan, ABP has opted for a period of five years within which to restore the coverage ratio to the legally required minimum level of approx. 105%. The most striking measures in ABP’s recovery plan are the temporary increase in the premium for old-age and surviving dependants’ pensions and a slight reduction in the investment risk. No reductions of pension rights currently feature in the recovery plan.
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