In October 2018, research bureau Motivaction was asked by Pensioenfonds PGB to gauge the level of satisfaction and opinions on social responsible investing among our (retired) participants. A total of 7,408 online questionnaires were completed, 1,601 by active and 5,807 by retired participants.
Satisfaction has increased
The satisfaction with our service has increased. Of course we are very happy with this. Active participants rated our service with a 7.2 (was 6.9) and pensioners with a 7.8 (was 7.7). The satisfaction with our provision of information has also increased. A striking point is that both active and retired participants increasingly wished to receive our information digitally.
Greater knowledge of pension - but misunderstandings, too
An increasing number of participants know the approximate level of their pension, whether it is sufficient in the future, and, if not, what their options are. However, some misunderstandings are persistent. Nearly 50% of the active participants for example wrongly think that they are paying pension contributions for today’s pensioners. This is true for the AOW (state pension), but not for pensions from an employment relationship. The contributions you are currently paying, serve to build up your own pension, although the scheme contains a certain degree of mutual solidarity.
Indexation is not a right
80% of our retired participants think they are entitled to indexation of their pensions. Unfortunately, this is not the case. We may only increase the pensions if we have sufficient capital to do so. This is provided in the law. Our financial position (or funding ratio) must be good enough to allow indexation. The funding ratio indicates how financially healthy we are. Only when our funding ratio is 110% or more, will be we allowed to increase the pensions. In the past few years, unfortunately, we could not increase the pensions. On the other hand, we never had to lower the pensions either. Nor do we at present need to take into account a reduction of pensions in 2010. Do you want to know more about our financial situation? Click here.
Socially responsible investing is becoming more and more important
Another question in the survey was how (retired) participants felt about socially responsible investing. Both target groups to a large extent consider it Pensioenfonds PGB’s responsibility to pay heed to the social and environmental effects of our investments. Indeed, more than 50% consider socially responsible investing more important than maximum returns. At the same time, socially responsible investing should not, according to the participants, have a negative impact on returns or involve higher risks. Pensioners incidentally consider socially responsible investing even more important than active participants.
Renewable energy and healthcare are favourite
Pensioenfonds PGB is considering investing more in the Netherlands. When asked where to invest in, 'Renewable energy' and ‘Healthcare' were preferred by both active and retired participants. We also asked participants which 3 Sustainable Investment Goals (SDGs) on the agenda of the United Nations they considered to be the most important. ‘Good health and wellbeing’ and ‘Affordable and sustainable energy’ also turned out to be favourite, besides the combat of poverty.