A parliamentary motion to obtain information on which pension schemes have paid back money to employers in the Nineties was handed in last week to Dutch social affairs minister Henk Kamp

Pension schemes in the Netherlands made high returns in the last decade of the twentieth century with annual returns sometimes reaching up to 10%. As a result, some pension schemes paid back money to employers but it is unclear how often this happened and which schemes carried out such procedures.

Members of various Dutch political parties have now requested that the minister gives clarity on which schemes paid, and just how much.

The government announced that it would provide such information in 2002, yet nine years later nothing has been published. The motion submitted last week states that the parties request information - giving an overview of all paybacks carried out between 1985 and 2005 - within the next three months.

Taking into account, they say, that many pension schemes in the Netherlands have had to decrease their premiums over the last couple of years this information is highly valuable and can have consequences for various pension schemes.

Dutch MP Pieter Omtzigt from the CDA (Christian Democrats), says that paybacks to sponsors are unfair to the employees as some of the money paid to employers is theirs.

"In the current financial crisis many pension schemes have got into trouble and have had to take measures to ensure they could continue paying out. We think it fair to recommend that before other options are considered they first look at 'outstanding loans' that can be paid back by the employers," says Omtzigt.

"In the Netherlands we have a pension system in which people are obligated to pay. The amounts are huge, we are talking about a market of roughly €800bn. These amounts require a policy of openness. Openness not just regarding investments and costs made but also regarding paybacks."

First published 04.05.11

azeevalkink@wilmington.co.uk