Shoring Up Oce Dutch Pension Fund Will Not Affect Business
07 August 2012 (PLANSPONSOREurope.com) - Shoring up Oce’s Dutch pension fund will not take its toll on the company’s business, a spokesperson for the printer, copier and scanner manufacturer has told PLANSPONSOR Europe.
The group’s Dutch pension fund has said it will cut rights by 5.7% on 1 August 2013 if its financial position does not improve by next year. The fund’s coverage ratio had fallen to 80.4% as of 30 June.
An OCE Spokesperson told PLANSPONSOR Europe that pumping more money into the pension fund will have no impact on the business.
“We can confirm Océ intends to contribute money to the fund if and when necessary (to be determined end of June 2013).
“This is necessary due to an agreement, arranged several years ago, between the company and the fund.”