NETHERLANDS - The €1.1bn pension fund for pharmacies' staff PMA has granted its participants an indexation of 1.25%.

This indexation is in line with the salary index, laid down in the collective labour agreement (CAO) for pharmacy workers, the industry-wide scheme said.

During the previous three years, PMA paid its participants an indexation of 0%, 1% and 1.75% respectively.

In 2006, PMA's returns on investments were 13.2% and its coverage ratio is approximately 200% at present, according to a spokesman.

PMA has almost 22,000 active participants, as well as 7,700 deferred members and over 3,200 pensioners. The number of associated pharmacies is over 1,800.

Earlier, the €5bn pension fund for the retail sector, decided to grant its active workers an indexation of 2.2%. Its deferred members and pensioners will receive a 1.3% rise.

And elsewhere, the €12.1bn railways scheme SPF and the €2.3bn public transport workers pension fund SPOV announced a full indexation of 2.27% and 1.19% respectively.

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