<![CDATA[KLM Newsroom]]> https://news.klm.com/ en Tue, 08 Sep 2026 19:02:39 +0200 Fri, 16 Dec 2016 13:14:45 +0100 <![CDATA[KLM Newsroom]]> https://content.presspage.com/clients/150_162.jpg https://news.klm.com/ 144 KLM and VNV pilots’ union agree on pension scheme for pilots https://news.klm.com/klm-and-vnv-pilots-union-agree-on-pension-scheme-for-pilots/ https://news.klm.com/klm-and-vnv-pilots-union-agree-on-pension-scheme-for-pilots/161506KLM and the pilots’ union VNV have agreed to reconvene in January 2017 to resume negotiations on the de-risking of pensions, with intention of reaching an accord during the course of 2017. Both parties have undertaken to do their utmost to arrive at a mutually acceptable pension scheme with fewer financial risks for KLM.

]]>Owing to new pension legislation in combination with low interest rates, KLM is faced with the obligation of making large and unintended additional payments into the pension funds. This obligation prompted KLM to withdraw from the so-called STROT (structural surpluses and shortages) protocol as well as its implementation agreement with the pension fund. Meanwhile, KLM, VNV and the pension fund have gained mutual insight and decided on a new calculation method for the additional payment that may have to be made into the pension fund.

Consequently, KLM has decided to rescind its decision to withdraw from the STROT protocol and the implementation agreement. This ensures that all parties are clear on the current pension scheme. KLM has suspended plans to establish a new pension fund, and KLM and VNV have agreed to halt legal proceedings against each other.

VNV and KLM also agreed that, should there be a “dowry” attached to the agreement on a new pension scheme, the possible additional payment in 2016 will be part of that dowry.

]]> Fri, 16 Dec 2016 13:14:45 +0100 https://content.presspage.com/uploads/162/500_737-8.jpg?10000 https://content.presspage.com/uploads/162/737-8.jpg?10000 Indexation perspective for KLM pilots’ pension scheme changes, other commitments unchanged https://news.klm.com/indexation-perspective-for-klm-pilots-pension-scheme-changes-other-commitments-unchanged/ https://news.klm.com/indexation-perspective-for-klm-pilots-pension-scheme-changes-other-commitments-unchanged/140511KLM cannot pursue the current supplementation scheme for future indexation of the pilots’ pension scheme. KLM is therefore compelled to suspend its STROT (structural surpluses and shortages) protocol with the VNV pilots’ union as well as its implementation agreement with the pension funds effective 1 December 2016.

]]>Owing to the new Financial Assessment Framework (nFTK) of the Dutch central bank DNB, the existing agreements in the STROT protocol, dating from 2001 and 2007, in combination with low interest rates would give rise to a situation wherein a substantial supplementary payment would have to be made into the pension funds.

The STROT protocol and the implementation agreement stipulate that KLM should make a supplementary payment if the cover ratio of the pension fund is insufficient for full indexation. The limit for this cover ratio had been set at 105%.

New legislation, which took effect on 1 January 2015, raised this limit to around 122%. Below this cover ratio, full indexation is impossible, which means KLM must make a supplementary payment if the cover ratio is below 122%. In view of the current financial status of the pension fund, this supplementary payment, which is due in late 2016, could amount to hundreds of millions of euros.

Together with this suspension, KLM presented the VNV with an alternative proposal for the STROT protocol and the implementation agreement. The proposed adjustments will result in a change in indexation perspective. All other pension assurances will be retained intact.

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