Thu Feb 19, 2009 11:31am EST
AMSTERDAM, Feb 19 (Reuters) – The Dutch central bank (DNB) is planning to give the country’s pension funds more time to improve their solvency ratios, a Dutch newspaper reported on Thursday.
Pension funds, which are expected to have a solvency ratio of at least 130 percent under current guidelines, will now have five years instead of three to restore their ratios, Dutch daily Financieele Dagblad reported.
The DNB declined to comment on the report.
According to the newspaper, some 600 Dutch pension funds now have an average solvency ratio of 96 percent, meaning that they cannot meet all of their obligations to pension holders.
Any pension funds with a solvency ratio of less than 105 percent as of April 1 are required to submit a plan to restore their ratios within three years, either from higher premiums or investment returns.
ABP, the world’s third-largest state pension fund after Japan’s and Norway’s, reported last month that the value of its assets shrank to 173 billion euros at the end of December from 195 billion euros a year earlier, bringing the solvency ratio to 90 percent.
Royal Dutch Shell’s (RDSa.L) pension fund also slipped into deficit after its value fell 40 percent, pushing its solvency ratio to 85 percent.
(Reporting by Reed Stevenson and Gilbert Kreijger; editing by David Stamp)
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This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
