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KLM and VNV pilots’ union agree on pension scheme for pilots

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KLM 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.
“I am pleased that we have been able to reach an accord with the VNV and that mutual trust has been restored. This brings to an end the uncertainty surrounding pilots’ pensions. I have every faith that this will enable us to work towards KLM’s further growth in good cooperation with one another.”
Pieter Elbers – KLM President & CEO

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