Pensioenfonds PGB tries to keep costs as low as possible
We incur costs for the management and investments of the pensions. We aim to keep these costs as low as possible. There are two types of costs:
Pension administration costs
These are costs for the administration of pensions and for informing participants about their pensions. This also includes the costs of the Board In 2021, the costs per participant were €166.
Asset management costs
These are the costs for investing the pensions. In 2021, they amounted to 0.43% of the invested capital.
With the assets, we must be able to pay the pensions of all our participants, now and in the future. In order to determine whether we have enough assets for this, we make calculations with an interest rate: the actuarial interest rate.
The recovery plan explains how we aim to ensure that the coverage ratio increases again
Due to the low interest rates and increased life expectancy, the coverage ratio of Pensioenfonds PGB is too low. We therefore have a recovery plan, stating how we intend to ensure that the coverage ratio rises above 122% again within 10 years. As long as the coverage ratio is lower than 122%, we must submit a new recovery plan to the Dutch Central Bank every year.
See the recovery plan (Dutch only).
What role do interest rates, our investments and the coverage ratio play in your pension? The video (in Dutch) below explains.