Netherlands: Pensions and Investment News and Analysis
Europe’s second largest pension system is preparing for a historic shift away from the current defined ambition arrangements in favour of one with DC accrual but largely in a collective asset pool. Despite political murmurings among members of the current coalition government, there have been no serious attempts to row back on the reforms, which will kick in from 2025 onwards. The main change for pension funds will be moving away from a system that manages funding ratio, with risk capacity determined accordingly, to one that is arguably better suited to the long-term risk profile of the participants. What’s not to be underestimated is the IT challenge in migrating millions of accounts to the new system.
Pension Funds in Netherlands - Country Report
Netherlands country report 2024: Dutch pension funds distribute buffers
The arguments heat up over what to do with excess funds in Dutch pension schemes
TOP DUTCH PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- ABP | 510,000,000
- Pensioenfonds Zorg en Welzijn (PFZW) | 242,360,000
- Pensioenfonds Metaal en Techniek (PMT) | 84,411,332
- BPF Bouwnijverheid (bpBOUW) | 66,338,803
- Pensioenfonds van de Metalektro (PME)| 55,728,949
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
Dutch funding ratios rebound after tariffs delay
The average pension fund had a funding ratio of 116% at the end of the month
Dutch funds see funding ratios rise in Q1 despite negative returns
Dutch pension funds felt the effects of Donald Trump’s trade war in the first three months of the year as interest rates rose and assets fell
Dutch pension funds reduce investment-grade credit exposure in new DC system
Many funds will no longer add investment-grade corporate bonds to matching portfolios, preferring instead bonds with higher expected returns
Dutch funds play hard to get on defence investments
Pension funds in the Netherlands await for government to take first step by providing investment opportunities
PensionsEurope elects new chair
Jacques Van Dijken will serve until at least November, when PensionsEurope’s next general assembly is held
TOP MANAGERS: DUTCH INSTITUTIONAL ASSETS
Company | Assets (€m)
- APG | 569,048*
- PGGM | 243,000
- BlackRock | 206,976
- Achmea Investment Management | 188,763
- MN | 149,457
- Aegon Asset Management | 93,090
- ASR Vermogensbeheer | 74,955**
- Van Lanschot Kempen Investment Mngt. | 74,027
- State Street Global Advisors | 64,262
- Northern Trust Asset Management | 52,349
As at 30.6.24, *31.12.23, **30.06.23
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IPE BEST PENSION FUND IN NETHERLANDS AWARD WINNERS
- 2023 - Rabobank Pensioenfonds
- 2022 - PFZW
- 2021 - PFZW
- 2020 - Shell Nederland Pension Fund (SNPS) and SBZ Pensioen
- 2019 - Stichting Calpam-Pensioenfonds
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Disagreements over pension reform persist in the Netherlands
When King Willem-Alexander read out his speech at the opening of the Dutch parliament, the topic of pensions was missing.
Dutch funding ratios rebound after tariffs delay
The average pension fund had a funding ratio of 116% at the end of the month
Dutch funds see funding ratios rise in Q1 despite negative returns
Dutch pension funds felt the effects of Donald Trump’s trade war in the first three months of the year as interest rates rose and assets fell
Dutch pension funds reduce investment-grade credit exposure in new DC system
Many funds will no longer add investment-grade corporate bonds to matching portfolios, preferring instead bonds with higher expected returns
Dutch funds play hard to get on defence investments
Pension funds in the Netherlands await for government to take first step by providing investment opportunities
PensionsEurope elects new chair
Jacques Van Dijken will serve until at least November, when PensionsEurope’s next general assembly is held
Trump trade war puts Dutch funding ratios under pressure
The short-term shock is extra relevant for Dutch funds, as they want to make the transition to a new defined contribution arrangement with comfortable funding ratios
Nedlloyd fund concludes €950m buyout with Zwitserleven
Prior to the deal, the fund had hedged its equity, dollar and interest rate risk ‘as much as possible’, ahead of ‘Liberation Day’
MN CEO eyes Bpf Bouw’s fiduciary mandate
€69bn Bpf Bouw, which is on the lookout for a new fiduciary manager, could be a great fit for MN, according to Martijn Scholten
APG AM chief vows improvement after ‘below standard’ 2024 returns
The Dutch asset manager’s actively managed concentrated portfolios especially underperformed, posting returns less than half of those of their benchmarks
Should pension funds increase their dollar hedge now?
US dollar’s downside risks have greatly increased under Trump’s second presidency. For Dutch schemes, upping protection is extra urgent during a time of transition to DC-based pension arrangements
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