Annual report 2024

Our annual reports cover everything that has happened during a particular year, including our financial position.

For the industry, current and future generations

PME is a fund for those shaping the future. Because the metal and tech industry is at the heart of many of the changes we are facing as humanity. From energy to climate and from digitalisation to healthcare; our sector always plays a crucial role in effectively realizing solutions for today and tomorrow. A good pension starts with good financial returns, provided you can enjoy them in a livable world. That’s why we are also contributing to a better world with our investments. That’s how we shape the future together. 

Our financial results in 2024

At the end of 2024, our current funding ratio was 113.0% and the policy funding ratio 112.7%. In 2024, we achieved an investment return of 8.7%, resulting in an excess return of 1.7% on the investment target. We increased pensions by 0.3%. Expressed as a percentage of average invested assets, total asset management costs fell from 0.404% to 0.397% by 2024. Expressed as a cost per participant, the total cost of pension management increased in 2024 from EUR 103 to EUR 115. This may be explained by temporary additional investments ahead of the transition to our new pension scheme in 2027.

Towards a new pension scheme

Much of our time in 2024 was spent preparing for a new pension scheme. In March 2024, the social partners reached a general agreement. In mid-November 2024, we received the final transition plan from the social partners as an assignment for the implementation of a new pension scheme, including the request to integrate the accrued pension entitlements and rights. In 2024, we also made preliminary decisions on various components of the financial setup of the new pension scheme. In the autumn, we decided to postpone the target date for the transition to the new scheme to 1 January 2027. This was to ensure a controlled transition.

Investing with financial and social returns

We are committed to achieving our financial objectives in a way that contributes to a sustainable world. Our Climate Plan sets goals to reduce carbon emissions from our portfolio. By the end of 2024, CO₂ emissions from our equity and corporate bond portfolios were down 73.8% and 53.6% respectively compared to 2019 and our real estate portfolio was down 24.2% compared to 2020. Impact investments are investments aimed at achieving positive impact on environmental and social factors, while securing an adequate financial return. By the end of 2024, PME had EUR 3 billion in impact investments in its investment portfolio.

Engaging with our stakeholders

We are here for our participants, pension beneficiaries  and employers. They are our top priority. In particular, this reflects itself in us providing tailer-made services to them.  We are approachable, accessible and proactively engage in dialogue so that we understand their concerns and wishes. We do this in person through our consultants, employer visits and meetings around the country, as well as through research and data analysis. In doing so, we ensure that we improve our understanding of how our tools and customer interactions can be of value to our participants, pension beneficiaries and employers. In 2024, we measured an average satisfaction score of 7.4 across the entire population of (former) participants and pension beneficiaries. They rated their trust in the fund with an average score of 7.6. Employers rated their trust in PME as the administrator of the pension scheme with an average score of 8.1.

Read our 2024 annual report in full online. 

Download our 2024 annual report in full (in PDF format).

Read the press release “2024: Stability and growth”.

Read our post on LinkedIn “2024: Stabiliteit en groei voor PME".

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