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
What you need to know about the Dutch DC pension reform
January sees the first three pension funds transfer to a new DC-based accrual system in the Netherlands; others will follow over the next three years
Dutch inland shipping fund to merge with transport sector fund
Existing accruals will be transferred to Bpf Vervoer on 1 October 2025
Dutch pension fund appetite for mortgages almost saturated
Most schemes have now reached their target allocation to the asset class, which is also experiencing renewed competition from listed bonds
Dutch doctors fund switches to concentrated equity portfolio
The €10bn fund will only keep about 70 companies in a new buy-and-hold approach
ABP buys €2.7bn Dutch mortgage portfolio
Despite the large purchase, the fund will remain underweight mortgages compared to other Dutch pension funds
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
Interviews
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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.
What you need to know about the Dutch DC pension reform
January sees the first three pension funds transfer to a new DC-based accrual system in the Netherlands; others will follow over the next three years
Dutch inland shipping fund to merge with transport sector fund
Existing accruals will be transferred to Bpf Vervoer on 1 October 2025
Dutch pension fund appetite for mortgages almost saturated
Most schemes have now reached their target allocation to the asset class, which is also experiencing renewed competition from listed bonds
Dutch doctors fund switches to concentrated equity portfolio
The €10bn fund will only keep about 70 companies in a new buy-and-hold approach
ABP buys €2.7bn Dutch mortgage portfolio
Despite the large purchase, the fund will remain underweight mortgages compared to other Dutch pension funds
Achmea and Sixth Street merge to enter Dutch buyout market
The joint venture comes months after Lifetri, an insurer owned by Sixth Street, pulled out of the Dutch buyout market following a lack of success due to its small size
How pension funds manage derivatives and liquidity needs
The use of derivatives, for hedging and other purposes, is common among pension funds, but it can be a drain on liquidity. We asked three pension funds how they ensure adequate levels of liquidity when interest rates are volatile
IPE Netherlands Briefing: First three funds get go-ahead for DC switch
Plus: BP pension fund is considering a buyout to a Dutch insurer for its Belgium-based DB accruals
PGGM announces €1.7bn credit risk sharing transaction with UniCredit Bank
The Dutch pension investor entered into a €1.7bn transaction with UniCredit Bank Czech Republic and Slovakia
Ahold Delhaize buys off sponsor guarantee for pension fund
The move is related to the fund’s planned transition to a DC arrangement in 2027
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