| Annual report published |
| Last year was one of extremes. The highs and lows of 2020 are illustrated by the blow to the financial markets that the pandemic caused in Q1, and their subsequent recovery as the year went on. Interviewed for our magazine Generaties, Dee Denteneer and Jasper de Greeff of the Board of Trustees summarised this in a few sentences. “Looking back, we’re both relieved and disappointed: relieved because the actual funding ratio had recovered by the end of the year, and disappointed that we can’t index the pensions at 1 April 2021. We can only increase the pensions by indexation if the policy funding ratio is 110% or better, and at the end of last year we fell just a little short. The good news is that the actual funding ratio hasn’t dropped below 117% since the end of 2020, and by late April even hit 125%. This increases the likelihood that we’ll be able to increase the pensions by indexation next year.” You can read all about what happened in 2020 in our annual report. |
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| Last chance: sign up for the interactive dialogue session |
Would you like to find out more about the pension fund's financial position, and the impact of current developments? We would love to talk to you.
Join us for our interactive online dialogue session at 3 p.m. on Tuesday, 8 June. Members of the Board of Trustees will answer your questions about indexation, the new pension system, investment policy and any other topic on which you would like to hear the Board’s thoughts. Have you signed up yet? |
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| Did you know... |
- It is Philips Pensioenfonds’s ambition to provide a proper pension for the lowest possible cost?
- In 2020, the pension administration costs per member were €104 (in 2019: €105)?
- This amount does not include the non-recurring costs caused by the transition to a new pension administrator in 2020?
- In 2020, the costs of asset management were 0.26% (in 2019: 0.24%) of the average assets under management? The costs for investment transactions were 0.13% (in 2019: 0.13%) of the average assets under management.
- Philips Pensioenfonds has relatively low costs compared with other pension funds of its size?
- You can read all about the pension fund’s various costs in section 2.8 of the annual report?
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Take part in our risk appetite survey To help Philips Pensioenfonds understand what risks our members consider acceptable for our investment policy, we will shortly be inviting many of our members to take part in a risk appetite survey. By taking part, you too can influence future decisions that we make about the investment policy. The survey uses an interactive tool. It will take less than 10 minutes of your time. Are you in?
To find out more about the pension fund’s reasons for conducting this survey, read the 10 did-you-know items in the article on page 12 of our magazine Generaties (in Dutch).
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