Below you will find a brief summary of the most important information about the financial position of Philips Pensioenfonds.
- The policy funding ratio at 31 March 2021 was 112.7%
- The actual funding ratio at 31 March 2021 was 123.0%
- The policy funding ratio at 31 December 2020 was 109.8%
- The actual funding ratio at 31 December 2020 was 117.2%
- The assets returned 5.4% from 1 October to 31 December 2020
- The assets returned 4.4% from 1 January to 31 December 2020
- The value of the pension fund’s assets at 31 December 2020 was € 22,921 million
- The policy funding ratio was 109.8%, which is below the required funding ratio as at 31 December 2020 (118.2%). The Fund therefore still had a deficit as of that date. Therefore, the Fund will have to update the existing recovery plan and submit it to the Dutch bank regulator for approval before 1 April 2021.
How healthy is your Pension Fund?
One of the factors used to determine the financial position of Philips Pensioenfonds is its funding ratio. If a pension fund has a funding ratio of 100%, this means that its assets are precisely enough for it to pay its existing pension liabilities.
Invest carefully for your retirement
The investment policy is based on an investment portfolio that distinguishes between fixed-income and variable-yield securities. This distinction offers a strong possibility of achieving our ambition in the long term: for retired members and non-contributory policyholders, this means a pension that increases to reflect price inflation, and for active members it means pension that increases alongside wage inflation, without incurring excessive risks.
Financial crisis plan
What if a shortage situation threatens?
Every pension fund in the Netherlands is required to have a financial crisis plan in place. Philips Pensioenfonds’s financial crisis plan describes what action the Board of Trustees will take if the pension fund finds itself in a crisis situation, or if a crisis situation is imminent.
How do I keep up to date with the financial situation at the Fund?
Every quarter we publish current information about the financial position of the Fund in the quarterly report. The quarterly report can be found on the Pension Fund's website. In addition, you will find a graph showing the current level of the funding ratio each month. It is updated halfway through each month.
When does the Pension Fund publish the monthly funding ratio?
The funding ratio of the previous month is always published on the website around the fifteenth day of the month. After publication, a Twitter message is sent (via @PhilipsPensioen).
The Dutch Bank (DNB) publishes details of individual pension funds on www.dnb.nl. Can I also find the data of Philips Pensioenfonds published by DNB on www.philipspensioenfonds.nl?
DNB publishes quarterly figures that are reported to DNB by the individual pension funds. Most of the information published by DNB can also be found on the Philips Pensioenfonds website. In the quarterly report of Philips Pensioenfonds you will find the policy funding ratio, the required funding ratio, the invested capital including the return on it. The so-called "premium coverage ratio" is published by Philips Pensioenfonds in its annual report. The quarterly reports and the annual report can be downloaded from www.philipspensioenfonds.nl/downloads
We try to increase your pension every year. This is called 'indexation'. But indexation cannot be taken for granted. Do you want to know more about our indexation policy?