Pensioenfonds PGB publishes annual reports

As of today, you can read our 2023 annual report and our 2023 annual socially responsible investing report on our website. 

6 May 2024

In 2023, our financial position improved again
This allowed us to increase pensions for the second time. And we did so again on 1 January 2024. The total increase over the past two years therefore amounted to 15.2 percent. We were also able to keep the pension premium the same. And that is good news for all our participants and employers.

We are well prepared for the arrival of the new pension
We have taken important steps towards the new pension in 2023. Pensioenfonds PGB is expected to transfer to the new pension system on 1 January 2027. In order to involve our social partners and employers in a timely manner, we held many consultations with them last year. We also developed a new digital platform especially for them.
In addition, we continued and will continue to offer our participants stability. We had independent surveys carried out to see how well we listen to them and received a Golden Ear Recognition for this in 2023.

Sustainable investing is no longer an afterthought for us
In 2023, we also reformulated our investment philosophy and risk appetite for sustainable investing. Summarising, our main duty is to ensure a good pension in a liveable world. That is why sustainable investing is necessary, and no longer an afterthought. In all our investments, we make an extensive assessment between return, risk, costs and sustainability.

Our participants want that too
We focus on the sustainable goals we pursue. In 2023, we conducted a survey among participants. On this basis, the board established three focus themes: climate, biodiversity and sustainable nutrition. The survey showed that a large majority (70 percent) considers sustainable investing important. A small minority (5 percent) think results are more important, and 25 percent is neutral. We have also tightened our climate plan in 2023. This now puts us on track for our goal: halving the CO2 footprint of our investment portfolio by the end of 2030.

Our Chairman of the Board Jochem Dijckmeester about 2023:
“All developments of the past year show that as a pension fund we must remain agile in order to be able to respond quickly to changing circumstances. We pay a lot of attention to that. As well as to the transition to the new pension system; a big change for us, but also for our participants, employers and social partners. We offer them as much stability as possible during that process.
To reinforce this, we formulated a promise in 2023: for all of us. This refers to ‘getting it right for all of us’. But also to our long social tradition: that of ‘taking care of each other’. Because despite all the growth and changes, this has remained unchanged: we retire together. For all of us.”


Want to find out more?
Click here for our 2023 annual report (in Dutch only).
Click here for our 2023 annual socially responsible investing report (in Dutch only).

2023 summarised

Participants accruing pension benefits 128,986
Pension recipients 99,917
Former participants 213,156 
UFR coverage ratio year-end 2023 112.5%
Policy funding ratio year-end 2023 116.5%
Employers year-end 2023 4,049
Invested assets year-end 2023  € 32.0 billion
Return on investment over 2023 11.7%