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
Disinformation could mar DC transition ballots, fear Dutch pension trustees
Pension funds resist a proposal for mandatory fund-level ballots on the DC transition, fearing it will result in a no-vote because of the question’s complexity
DeepSeek’s arrival increases risk for passive investors
But it provides upside for companies that use AI applications, or are keen to start doing so, according to investment experts
APG and Rabobank invest €800m in new impact loans
The investment has been made through Colesco Capital, a new Rabobank-owned investment platform with a focus on sustainable corporate loans
PME reconsiders BlackRock mandates after NZAM exit
Dutch technology industry scheme wrote to the asset manager as it feels increasingly uncomfortable with “BlackRock’s retreat from responsible and sustainable investing”
Dutch pension giants post solid 2024 returns despite bond market headwinds
Strong equity market returns more than compensated for capricious returns on bonds
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
Interviews
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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.
Disinformation could mar DC transition ballots, fear Dutch pension trustees
Pension funds resist a proposal for mandatory fund-level ballots on the DC transition, fearing it will result in a no-vote because of the question’s complexity
DeepSeek’s arrival increases risk for passive investors
But it provides upside for companies that use AI applications, or are keen to start doing so, according to investment experts
Achmea IM and BlackRock emerge as winners in the Dutch fiduciary management market
Last autumn, Shell’s €26bn Dutch defined benefit (DB) pension fund announced it would swap Samco, the oil giant’s in-house asset manager, for BlackRock as its fiduciary manager.
APG and Rabobank invest €800m in new impact loans
The investment has been made through Colesco Capital, a new Rabobank-owned investment platform with a focus on sustainable corporate loans
IPE Netherlands Briefing: First three schemes move to new DC system
Plus: ABP tells its in-house asset manager APG to shed all its other fiduciary clients by 2030
PME reconsiders BlackRock mandates after NZAM exit
Dutch technology industry scheme wrote to the asset manager as it feels increasingly uncomfortable with “BlackRock’s retreat from responsible and sustainable investing”
Dutch pension giants post solid 2024 returns despite bond market headwinds
Strong equity market returns more than compensated for capricious returns on bonds
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’
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