This month we had news that bpfBOUW selected BlackRock as the preferred candidate to manage its €70bn pension assets under a fiduciary management mandate, subject to final contract negotiations. The choice has drawn criticism from climate campaign group Follow This, while bpfBOUW said BlackRock offered international scale, investment expertise and support for its responsible investment policy.
Meanwhile, a Dutch court has ordered ExxonMobil to make an additional payment to its pension fund after ruling that the company failed to provide additional funding for pension indexation between 2021 and 2024. The judgment follows a dispute over an agreement providing for conditional indexation and additional funding in exceptional circumstances, although the exact amount remains unclear after the judgment was reportedly withdrawn.
Confidence in Dutch pension funds and the new defined contribution system has risen sharply, according to a survey by the Dutch central bank (DNB). The proportion of households expressing confidence in pension funds increased to 63% from 55%, while confidence that funds can continue paying pensions rose to 61% from 51%, with higher payouts and transition bonuses potentially contributing to the improvement.
Pensioenfonds Detailhandel has decided to hedge 80% of its equity exposure using a put option ahead of its planned transition to the new pension system in January 2027. The retail-sector scheme had previously decided against such protection, but a 2025 study prompted it to reconsider its approach to equity risk.
Stichting Pensioenfonds Mars almost doubled its hedge fund allocation from 11% to 21% in 2025, while cutting its listed equity exposure from 14% to 5%. The €1.5bn scheme is positioning its portfolio to protect its funding ratio ahead of its planned transition to the new DC system in 2028, while retaining scope for capital growth.
Items to note:
- IPE Iceland 2026 is taking place in Reykjavik on 14 October. The one-day forum brings together Iceland’s investment decision-makers with asset manager specialists, European pension fund peers, chief economists and key local stakeholders.
Venilia Amorim
IPE News Editor
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