Austria’s VBV Pensionskasse will take over 16,000 new pension beneficiaries from Siemens at the beginning of 2022 bringing its total assets under management to €8.5bn from €7.9bn at the end of 2020.
According to the pension fund’s 2020 financial statement, VBV Pensionskasse allocates €3.3bn to equities and other equity securities, €2.3bn to bonds, €520.7m to bank deposits, €304.2m to real estate, €40.3m to loans and credit, and €1.4bn to other assets.
The number of beneficiaries in the Pensionskasse has now reached 292,155, up from 286,479 in 2019. Around 43,786 retirees received a pension from the Pensionskasse last year, up from 41,088 in 2019.
The average pension payout was €488 per month paid out 14 times a year per retiree.
“We are delighted [to take on board] this important new customer and the trust Siemens has in us, ” Gernot Heschl, VBV Pensionskasse’s chief executive officer, said.
VBV Pensionskasse recorded a 3.7% return in 2020, above the average performance of multi-employers’ pension funds of 2.3%.
According to consultancy Mercer, VBV Pensionskasse topped performance in investment options with the highest allocations to equity in 2020. The pension fund recorded a 2.52% return in its defensive option, 3.86% in its active and 5.82% in its dynamic categories.
The VBV Group has also defined a series of strategic sustainable goals in 2020 in line with the United Nations’ Sustainable Development Goals (SDGs).
The goals include securing people’s living standards over generations, climate protection and limit global warming to 1.5°C, investing in a sustainable industry, innovation and infrastructure, and investing in affordable and clean energy, among others.
VBV Pensionskasse restructured its equity portfolio during the COVID-19 crisis so that 90% is geared towards sustainability now. One of the strategic elements for 2021 is to invest profitably with a “strong focus on sustainability and climate protection”, according to the statement.
“Our goal of combining good investment returns with [the support of] structural improvements for the environment, society and economy is becoming more and more important for our customers,” said Günther Schiendl, member of the management board responsible for investments at VBV Pensionskasse.