News

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The corona crisis initially hit the financial markets hard in 2020. As the year went on Philips Pensioenfonds saw its buffers recover – though unfortunately not enough for us to increase our pensions by indexation. Because of the current interest rates and the latest developments on the financial markets, however, we expect that we will be able to grant you (partial) indexation on your pensions during the years ahead. Nevertheless, as the corona crisis continues it remains uncertain whether that will in fact be possible.

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The quarterly report for the fourth quarter of 2020 has been published. You can download the report via our website. In the fourth quarter of 2020, the current funding rate increased from 109.3% at the end of September to 117.2% at the end of December. This sharp increase of 7.9% point in the last quarter was mainly due to good returns on the equity portfolio and the processing of new life expectancy figures.

The quarterly report for the fourth quarter of 2020 has been published. You can download the report via our website. In the fourth quarter of 2020, the current funding rate increased from 109.3% at the end of September to 117.2% at the end of December. This sharp increase of 7.9% point in the last quarter was mainly due to good returns on the equity portfolio and the processing of new life expectancy figures.

All participants who accrue a pension at Philips Pensioenfonds or receive a pension from us will receive the latest edition of our magazine Generaties. In this edition of Generaties we will explain more about the switch to the new pension provider as of 1 January 2021.

The current funding ratio increased in November from 108.2% (end of October) to 116.2% (end of November), or 8 percentage points. This sharp increase in one month is mainly the result of good returns on the equity portfolio and the processing of new figures on life expectancy.

Philips Pensioenfonds publishes the so-called premium funding ratio of the Fund in its annual report. At the end of 2019, this funding ratio was 97%. This percentage is calculated according to the method prescribed by De Nederlandsche Bank. This percentage does not take into account a decision made by the Board of Philips Pensioenfonds to hedge the 'interest rate risk' relating to the premium and pension accrual. When the interest rate hedging is taken into account, the premium funding ratio at the end of 2019 is 101%. In this news article you can read why Philips Pensioenfonds has hedged the interest rate risk and what effect this has on the premium funding ratio.

The quarterly report for the third quarter of 2020 has been published. You can download the report via our website. In the third quarter, the current funding ratio rose from 108.1% at the end of June to 109.3% at the end of September. With this, the funding ratio recovered for the second quarter in a row after the funding ratio fell sharply in the first quarter as a result of the coronavirus outbreak. The main contribution to the further increase in the funding ratio was made by the equity markets. As the global economy recovered after the coronavirus downturn, stock markets showed positive returns in the third quarter.

Philips Pensioenfonds exerts influence in various ways on companies in which we invest. As a shareholder in many companies, for example, we have the option of voting at shareholder meetings. And if companies in which we invest violate the Global Compact principles, we address them to this.