News
Coverage ratio April
At the end of April 2023, our current funding ratio increased to 112.3% (end of March: 111.5%). The policy funding ratio decreased to 112.6% (end of March: 112.7%).
Funding ratio shows slight increase
PME's funding ratio shows a steady positive trend during the first quarter of 2023. The current funding ratio increased from 110.4% at the end of December to 111.5% at the end of March. This is caused by a cautious increase in return, combined with interest rates that are still high.
PME also affected by data breach at software supplier
On 28 March 2023, PME was informed about a data breach at a software supplier of a market research firm we use. Several other organisations have been hit by the same breach. PME has clear picture of which data are involved and is trying to determine, in close cooperation with specialised research agencies, whether unauthorised persons have actually accessed or stolen the data.
What changes as of 1 January 2023
We regularly update our pension regulations. There are two recent changes we would like to share with you. Participation in the scheme continues in the event of a collective transfer. And you now also get a contribution waiver in the event of voluntary continuation.
PME capital stabilises in the second half of 2022
PME had a negative return of 23.27% over 2022. This resulted in a capital reduction of over € 64 billion to just under € 50 billion. The reduction was largely caused by the consequences of the war in Ukraine. The last two quarters were characterised by a stabilisation of the capital, which is continuing through early 2023. PME's funding ratio decreased to 110.4% in Q4
‘Future of Pensions’ legislative proposal adopted by House of Representatives
Adopted by the House, the Future of Pensions bill will now go to the Senate. The act is to take effect in 2023. The new pension scheme must be ready by 2027.
PME chooses to halve absolute CO2 emissions by 2030
PME is committing to absolute CO2 reduction. By 2030, CO2 emissions from equity and corporate bonds must be at least halved compared to 2019.
PME's sustainability ambitions assessed and tightened
Pointer investigated fossil money flows in the Netherlands, including those of pension funds. The results helped us tighten our sustainability ambitions.
PME pensioners will on average receive an additional €50 a month in 2023
From January 2023 all pensions are increased by 6.2%. This comes on top of the 1.29% increase in 2022. Pensioners will receive some €40 more pension a month.
Interest rate increase makes up for stock market losses
PME's funding ratio rises to 115% in the third quarter. This increase in the funding ratio is entirely due to the sharp rise in interest rates. Read more about PME's financial situation and what this means.
New pension rules will probably take effect on 1 July 2023
The new pension rules were supposed to take effect on 1 January 2023. But the Lower and Upper Houses need more time to deal with the Future Pensions Act. Therefore, the new rules are likely to take effect from 1 July 2023.
View the webinar about the new pension system
The pension system in the Netherlands is about to change. What will stay the same and what will change? That's what our webinar on 15 September was about. Wondering what the new pension system means for you? Then watch the webinar back now.
Your pension statement is ready
Are you accruing pension with us? Then your Uniform Pension Statement 2022 (UPS 2022) will be available online shortly. The UPS presents a clear overview of your pension situation.
Indexation becomes reality due to interest rate increase
PME's funding ratio rose to 112.4% in the second quarter. This increase in the funding ratio is almost entirely due to the sharp rise in interest rates. Read more about PME's financial situation and what this means.
Biodiversity has top priority for PME
De afname van biodiversiteit is een bedreiging voor onze lange termijn beleggingen. Daarom is PME lid geworden van het internationale samenwerkingsverband Partnership for Biodiversity Accounting Financials (PBAF).
PME increases pensions by 1.29%
In anticipation of the new pension system, the government will relax the rules that apply to increasing pensions from 1 July 2022. As a result, we can now increase the pensions by 1.29% as of 1 July 2022.
PME achieves 50/50 male-female ratio in governing board
Marlies van Boom has been appointed as a director at PME effective April 25, 2022. With Marlies' appointment, the general board now consists of half women and half men. Read more about the composition of the board.
Pension board members representing pensioners reappointed
As of 1 July 2022, Theo Bruinsma and Rik Grutters will be reappointed as pension board members representing pensioners. We are happy that Theo and Rik are reappointed and congratulate them on their reappointed.
PME invests in Dutch tech industry
PME is investing 25 million euros in the new investment fund DeeptechXL. The investment in this fund fits well with our policy of investing in our own sector and in companies with a positive social impact.
Annual report 2021: key figures and facts at a glance
In our annual report, we tell you how PME Pension Fund fared financially and what results we achieved. Curious? In the condensed annual report we list the most important facts.
PME's financial position still improving
Our financial situation also continued to improve in the first quarter of this year. The funding ratio rose to 110.8%. We would like to increase pensions. Unfortunately, this is not possible at this time. Read more about our financial situation and what this means.
Future of Pensions Act to House of Representatives
Yesterday, the "Future Pensions" bill was sent to the House of Representatives. The bill worked out more details for the new pension system we will have in the Netherlands. The new law is scheduled to take effect in early 2023.
PME sells all investments in Russia
The PME board condemns the Russian invasion of Ukraine and sympathizes with all those affected. PME already stopped investing in Russian government bonds and shares in Russian state-owned companies. The fund still holds a limited number of Russian equity positions and will sell them as soon as it can.
PME's financial position still improving
The improvement in our financial position continues. Across the year, the funding ratio increased by over 10%: the year 2020 ended with a funding ratio of 97.6%. Invested capital rose from €61.6 billion to €64.0 billion in 2021. PME had a total return of 3.5% in 2021.
Welcome to PME’s new website
You may have noticed already: our website has had an overhaul! This means that several things will work a bit differently than you were used to. We are happy to explain the changes to you.
Alae Laghrich appointed executive director at PME
The board of PME has appointed Alae Laghrich (1979) as executive director with the pension fund as of 1 January 2022. He will be responsible for risk management, governance, compliance and finance in the executive board.
Candidacy & election of pension fund board 2022
Since 1 July 2014, the board of PME not only includes representatives of employers and employees, but also 2 representatives of pensioners. The term of these 2 board members will expire on 1 July 2022. We are, therefore, looking for new candidates.
Continue reading in Dutch.
Pension value transfer to PME possible again
On 1 October PME's coverage ratio was more than 100%, 100.6% to be exact. This means that pension value transfer from other pension funds to PME pensioenfonds has become possible again.
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Coverage ratio slightly up in third quarter
In the third quarter our coverage ratio increased slightly from 104.0% to 104.6%. The invested capital increased from € 61.7 billion to € 61.9 billion. The pension obligations decreased from € 59.3 billion to € 59.2 billion. We achieved a 0.5% return.
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Good news! The Generation pact is continued
The new Metalektro collective agreement (CA) is final. The adherents of all CA parties support the agreements that were reached. This collective agreement is valid from 1 December 2020 through 30 November 2022. The Generation pact remains in the new CA.
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PME strongly commited to energy transition
PME remains strongly committed to its climate policy and continues to pursue its efforts towards the energy transition. PME has now sold all of its investments in the fossile oil and gas industry and distribution. This step does not affect the expected total return on investments.
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Small pre-2018 pensions automatically transferred to new provider
In September we start transferring ‘old’ small pension sums between € 2.01 and € 503.24 gross per year (2021). The advantage is that all your small pensions are assembled, allowing you to have an easy overview of your pension.
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Coverage ratio still more than 100%
In the second quarter PME's coverage ratio increased further from 101.7% tor 104.0%. This was mainly the result of positive returns. The invested capital grew from € 59.9 billion to € 61.7 billion.
Continue reading in Dutch.
Principle agreement for new Collective Agreement; how does it affect the pensions?
Last week it became known that a principle agreement has been reached for a new Collective Agreement from 1 December 2020 through 30 November 2022. The pension contributions were already decided at the end of 2020.
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Employers ASML and NXP ask PME to make greater effort towards energy transition
On 11 July, chairman of the executive board at PME Eric Uijen was presented with a statement by participants from ASML and NXP. In this statement they urge PME to take significant steps when it comes to the energy transition.
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Annual report 2020; an intense year
The year 2020 was dominated by the Covid-19 crisis. PME monitored the financial markets intensely and supported affiliated companies by offering payment extensions. In the summer, social partners and the cabinet sketched the contours of the new pension system, followed by the first preparations towards pension reform.
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Coverage ratio above 100%
The coverage ratio of PME increased to 101.7% in the first quarter. This was a consequence of increased interest rates in the first quarter of 2021, causing the value of obligations to go down. PME achieved an investment return of -3% for the first quarter of 2021. The invested capital decreased in the first quarter from € 61.6 billion to € 59.9 billion.
Continue reading in Dutch.
On our way with Future pensions Act, details not ready yet
It is very important to PME that we continue to have a solid pension system that can accommodate all participants and pensioners, both now and in the future. We also want the transition to the new system to be smooth. With that in mind, we have scrutinized the consultation document, together with our administrator MN and colleague pension funds PMT and Bpf Koopvaardij.
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PME does not cut pensions in 2021, permanent risk of cuts in next few years
PME does not have to cut the pensions in 2021. Since the fund's current coverage ratio increased from 93.7% to 97.2% in the fourth quarter, the threat of pension cuts has been averted for this year.
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Conditional Extra Pension granted
Every year PME buys the Conditional Extra Pension (Dutch: VEP) for a certain group of participants*. Due to legislation, 2020 is the last year for the VEP scheme. As a result, we attribute this VEP to participants from the birth years 1960 through 1972 in the first half of 2021. Participants that are entitled to VEP will receive a personal letter in May 2021 at the latest.
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PME: no pension cuts in 2021
PME's coverage ratio on 31 December 2020 was above 90%. This means that PME does not have to cut the pensions in 2021.
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What happens in good times or in bad times?
On the Mijnpensioenoverzicht.nl website, you will see for the first time from October an estimate of your pension if there are windfalls or setbacks in the future. You will see an estimate of your total pension, including AOW.