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 pension giants divest from Caterpillar over Palestine concerns
Four of Netherlands’ five largest pension funds have sold their combined €260m stake in Caterpillar, over human rights concerns in occupied Palestinian territories
PFZW’s shift to active equity strategy leads to termination of BlackRock
The Dutch pension fund for healthcare workers replaced BlackRock, LGIM and AQR with Robeco, Man Numeric, Acadian, Lazard, Schroders, M&G and UBS AM
GSAM pulls out of agreement to absorb third of Shell’s asset management staff
Shell and Goldman Sachs Asset Management had originally agreed the latter would absorb almost a third of SAMCo’s staff following fiduciary management win
ASR eyes buyout reinsurance
The Dutch insurer believes reinsurance will increase solvency and the internal rate of return of its pension fund buyouts
Achmea IM launches €250m private equity impact fund
The fund, which targets Dutch pension funds as investors, will focus on “healthy people in a healthy society”
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
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
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.
Could Dutch pension reforms still be reversed?
1 January 2025: that’s the day the first Dutch pension funds will move to a defined contribution (DC) system according to the new Pension Act. So the clock is ticking for politicians who still hope to reverse the pension changes, or give members a say on the mandatory conversion of defined benefit (DB) accruals to DC capital, the most controversial part of the pension reform.
Dutch pension giants divest from Caterpillar over Palestine concerns
Four of Netherlands’ five largest pension funds have sold their combined €260m stake in Caterpillar, over human rights concerns in occupied Palestinian territories
PFZW’s shift to active equity strategy leads to termination of BlackRock
The Dutch pension fund for healthcare workers replaced BlackRock, LGIM and AQR with Robeco, Man Numeric, Acadian, Lazard, Schroders, M&G and UBS AM
GSAM pulls out of agreement to absorb third of Shell’s asset management staff
Shell and Goldman Sachs Asset Management had originally agreed the latter would absorb almost a third of SAMCo’s staff following fiduciary management win
ASR eyes buyout reinsurance
The Dutch insurer believes reinsurance will increase solvency and the internal rate of return of its pension fund buyouts
Achmea IM launches €250m private equity impact fund
The fund, which targets Dutch pension funds as investors, will focus on “healthy people in a healthy society”
Dutch medical specialists scheme devises new fossil fuel investment policy
SPMS wants oil and gas companies to invest at least 20% of their annual capex in renewable energy projects to be eligible for investment
Self-employed to save at least 20% of income for pension, Dutch pension federation suggests
Responding to a proposed law, Pensioenfederatie suggests it should become mandatory for self-employed workers to save at least 20% of gross income for their pension
NN Life & Pensions in €4bn longevity reinsurance deal with Prudential Financial
The reinsurance deal covers around 96,000 policyholders and was arranged through PFI’s primary US insurance subsidiary
Dow Chemical pension fund gears up for buyout
Several insurance firms active on the Dutch buyout market have shown interest in a buyout of the €2.1bn pension fund of US chemicals giant Dow
IPE Netherlands Briefing: Dutch funds reverse course on active management
Plus: SamCo, the asset manager of most Shell pension funds, will be wound down, and Goldman Sachs Asset Management will be fiduciary manager of six Shell schemes
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