The €2.2bn pension fund of insurer Delta Lloyd has been declared the best pension fund with an average or final salary defined benefit plan in the Netherlands.

The prize was presented during the first Pension Funds Awards organised by the joint venture of pensions magazine IP Nederland and the Financieele Dagblad (FD).

The Delta Lloyd scheme was selected for its high returns and low costs, as well as its reinsurance arrangements, which enable the pension fund to avoid cutting pension rights.

Protector, the pension fund for ExxonMobile companies in the Netherlands, came in second place.

The pension fund of the Belgian bank KBC won the prize for best defined contribution plan, which guarantees a minimum return on investments. 

The pension scheme of ABN Amro bank won the award for best investment policy, owing to its “clear strategy in aiming for a balance between preventing rights cuts and its indexation target”.

The KLM pension fund for cabin staff and PNO Media achieved a joint first place in the category of client focus.

PNO won an award for its website, while the KLM scheme received an award for its cross-media approach.

The railways scheme (SPF), the pension fund for public transport (SPOV) and pensions insurer Swiss Life jointly won the prize for best long-term investment, due to their investments in a fund providing financing to small and medium-sized enterprises in developing markets.

During the awards ceremony, IP Nederland and the FD announced that they would continue their cooperation under the new name FD Pensioen Pro IPE.