NETHERLANDS - The €3bn Dutch pension fund of electronics giant IBM has granted its participants in defined benefit plans an indexation of almost 2.8%.

Part of the pension increase - 1.2% - equates to 75% of the consumer index between September 2009 and September 2010, it said.

The additional 1.6% rise is meant to make up for the indexation the IBM scheme did not grant during the same period.

The Stichting Pensioenfonds IBM Nederland saw its coverage ratio increase to 131% at the end of 2010.

In other news, the €1.2bn scheme for pharmacy staff (PMA) announced an inflation compensation of 0.75%, following the salary index.

PMA's funding ratio has risen by 10 percentage points to 121% during December, officials told IPE.

Last year, the Pensionfonds Medewerkers Apotheken granted an indexation of 3.25%.

Lastly, the Actuarial Society (AG) has confirmed the departure of its director, Anno Bousema, who has been four years in the job.

After a 17-years career at the AG, Bousema will become a partner at Hilversum-based Financial Assets Executive Search, where he will be responsible for a new actuarial entity from 1 March, the AG said.

Up to 31 March, Bethe Alkemade-Akveld will acts as AG's interim director, advising the board during its search for a new director.

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