Dutch retailer Super de Boer confirmed today (2 April) that talks to reach an agreement with the Foundation Pension Fund have collapsed.
The company and pension fund were in negotiations over plans to recover the current coverage ratio of 86% to the minimum required level of 105% within the allowed time-frame of five years.
“Super de Boer supports a balanced package of recovery measures consisting of additional premium contribution to be paid by the employer, premium increase for the current employees, annulment of indexation, adjustment of the investment policy and finally the decrease of vested pension rights as of 2012,” the company said.
“Unfortunately, Super de Boer did not come to an agreement with the Pension Fund on the package of measures to be taken. As a consequence, Super de Boer has cancelled the present service agreement with Pension Fund SDB as of 1 January 2010.”
From 1 January 2010, Super de Boer said it would explore the possibilities to conclude a new service agreement for the current employees based on the present pension plan.
When contacted by just-food, the retailer declined to comment further.