CNV trade union federation backs pension reforms

UTRECHT - The Christian Labour union federation CNV has okayed the pension reform accord agreed to by the unions, the employer groups and the government. The CNV still wants the government to allow people in physically challenging trades to opt for early retirement, and to strengthen oversight of pension funds so they contain the swings in the value of pension investment pools. Members of the ACP police union and military union ACOM, which are affiliated with the CNV, voted against the accord. The FNV, which is the country's largest union federation, will not release the results of its membership referendum until September. FNV affiliate Bondgenoten opposes the accord. Former FNV leader Lodewijk de Waal, who supports the accord, suggests that everyone will be better off with the new system. The deal paves the way for an increase in the pension age to 66 and possibly 67, and changes the way corporate pensions are calculated by giving greater weight to market risks. De Waal emphasized that it will be up to individual sectors to decide the level of risk they will allow for their pension pool. According to De Waal, everyone must realize that the accord is a template and many details still need to be ironed out.