Annual Report

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Annual Report

Read how developments during 2022 impacted us

Every year, Philips Pensioenfonds publishes its annual report on the previous year, to inform you about the pension fund’s financial position and important developments that occurred during that year. Recurring sections in every annual report include key data, the report of the Board of Trustees, the financial statements and the opinion of the Accountability Body.

Annual report 2022

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1 June 2023

Would you like to know more about the developments that will affect Philips Pensioenfonds in 2022? Read it in the annual report.

The report is in Dutch. In chapter 8 you can read the English summary.

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Annual report 2022

We were able to close the year 2022 in good financial health. The current funding ratio at the end of the 2022 reporting year was 128.4%. A limited decrease compared to the current funding ratio at year-end 2021 of 132.3%, despite a substantial indexation (as of 1 April 2022) of the pensions of pension recipients and holders of non-contributory policies of 7.78% (including catch-up indexation) and an indexation of the pensions of the pension accruors of 1.98% (including catch-up indexation).

The policy funding ratio increased in 2022, from 125.8% at the end of 2021 to 128.7% at the end of 2022. With this funding ratio, we were able to increase pensions again as of 1 April 2023 through indexation without sacrificing too much of our financial buffer.

In the annual report you will find a complete overview of what developments have meant for Philips Pensioenfonds in the year 2022 and we briefly look ahead to 2023. Read more in the annual report 2022. The report is in Dutch. In chapter 8 you can read the English summary.

Looking back on 2022 in Magazine Generaties

Board of Trustee Members Frederieke Leene and Mike Pernot look back on 2022 and the first month of 2023. They talked about that issues the Board discussies and what topical developments it was forced to consider. "The new pension system of course was a recurring theme in every one of our decisions."

After years of very low interest rates, they surged in 2022. Although this plunged our investments deep into the red it had little impact on the funding ratio. Frederieke and Mike explain why: "Given the circumstances, we're quite happy with the Pension Fund's financial position. The high inflation rates and rising interest made 2022 a challenging year."

Read more in Generaties