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
Actuary MP Joseph proposes mandatory ballots on Dutch DC conversion
Joseph’s amendment will, together with the one that arranges the extension of the transition period, be discussed on 29 January in Parliament
Dutch pension funds divest from Tesla
ABP and Bpf Bouw, two of the largest four pension funds in the Netherlands with over €600bn in assets between them, have sold their shares in Tesla over ESG concerns
Omnibus changes would need to be reflected in SFDR review, say Dutch
Pensioenfederatie flags concern about pension funds’ ability to label investments as ‘transition’
ABP orders fiduciary manager APG to shed all other clients
The move means APG’s three other fiduciary pension fund clients have to find alternatives
PGGM disbands advisory council amid row over new investment policy
The pension asset manager also tried to fire its chief economist for criticising the firm’s switch to ‘3D-investing’
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.
Actuary MP Joseph proposes mandatory ballots on Dutch DC conversion
Joseph’s amendment will, together with the one that arranges the extension of the transition period, be discussed on 29 January in Parliament
Dutch pension funds divest from Tesla
ABP and Bpf Bouw, two of the largest four pension funds in the Netherlands with over €600bn in assets between them, have sold their shares in Tesla over ESG concerns
Omnibus changes would need to be reflected in SFDR review, say Dutch
Pensioenfederatie flags concern about pension funds’ ability to label investments as ‘transition’
2024: Achmea IM and BlackRock win Dutch fiduciary mandates
Last year, Achmea IM and BlackRock each won +€20bn fiduciary mandates from Dutch pension funds. This makes them the clear fiduciary winners of 2024.
ABP orders fiduciary manager APG to shed all other clients
The move means APG’s three other fiduciary pension fund clients have to find alternatives
PGGM disbands advisory council amid row over new investment policy
The pension asset manager also tried to fire its chief economist for criticising the firm’s switch to ‘3D-investing’
Dutch DC frontrunners reform their interest rate hedges
In DC, pension funds will only hedge interest rate risk for older participants
Dutch doctors’ fund focuses on Europe in new equity portfolio
The scheme’s new concentrated portfolio only includes 65 companies
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
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