Philips Pensioenfonds

Latest developments concerning your pension fund

In this issue

10 questions about pension! | Deciding when to retire
Survey about sustainable investment

Everything ready for your retirement? Make sure now

Moving in with your partner, getting married, having children... These are probably not the moments in your life when you are most likely to be thinking about your pension. Nevertheless, it is important to know where you stand with your pension whenever your life enters a new phase. Today marks the start of the Pensioen3daagse, an annual 3-day event that is all about pensions. Around the country, the focus will be on this year’s topic: ‘Everything ready for your retirement? Make sure now!’ While you do not need to pay mind to this call to action every day, or even every month, it certainly becomes relevant at times of major change in your life. Read on to find out more.

10 questions about pension!

What do you know about your pension, and how do you rate your pension fund?

Do you know when you can retire? Do you know when you need to undertake action? And do you agree with what Philips Pensioenfonds does to help you? We regularly conduct surveys to find out what you know and what your thoughts are. This helps us to better match our communications to your needs. We have ten questions that we would like you to answer. It will only take a few minutes of your time, and your answers are very useful to us.

To the quick survey

Did you know...

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with the Flex pension plan, you decide for yourself when you want to start drawing your pension?

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you can finalise that decision any time after you turn 58?

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you must inform us no later than 6 months before you reach the age when you want to retire?

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that we have prepared an animated video to summarise all your available options and that it also explains how to fix your retirement age?

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that the video tells you in less than 2 minutes everything that you need to know about choosing your retirement age!

'Anw-shortfall insurance, I'd never even heard of it!'

Laura (28): ”Last year my partner Rick and I bought a house. It was our first time living together. I was telling everybody at work about it, of course, and a colleague mentioned that it would be smart to look into Anw shortfall insurance. I’d never even heard of it! So I started reading about it, and I discovered that it’s unlikely that my partner will be paid a full Anw survivor’s pension from the government if I die, because he already has his own income. I also read about Anw shortfall insurance to cover the difference. A house is a huge commitment, and if I die before my time, I’d like to know that Rick won’t have any financial problems. So I registered Rick with Philips Pensioenfonds, and took out Anw shortfall insurance at the same time. You can only take out that insurance at a few specific moments, for example during the first two months of living together, so I’m very glad that my colleague pointed this out and I had enough time to decide what to do. Now I pay a small monthly insurance premium, and in exchange I have more peace of mind.”

Policy funding ratio: 110.1% Quarterly Q3 figures of 2020

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The policy funding ratio at 30 September 2020 was 110.1%

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The return from 1 July to 30 September 2020 was 2.3%

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The pension fund assets at 30 September 2020 were € 21,855 million

Latest developments

During Q3, the global economy recovered from the hit that it had taken when the coronavirus crisis first struck. The stock markets recorded positive returns, and the actual funding ratio improved.

The pension fund’s strategic investment policy offers scope for various different investment mixes to respond to the latest developments on the financial markets. In the spring, after a sharp decline in equity markets due to the corona crisis, the Fund opted to include more shares in the investment mix. The reason is that the market conditions then were favorable for investments with an expected higher return, while there was a limited higher risk.

In late September, the investment mix was adjusted, with fewer investments in equities (i.e. shares) and more in government bonds. We expect equities to underperform. This is because there is a greater risk of declining prices, which have become more likely following the financial markets’ strong recovery from the shock caused by the coronavirus at the start of the year. However, the future returns are expected to be slightly lower with the new investment mix. But this makes the Fund more resistant to possible price falls.

Research on sustainable investing

During the summer, we conducted a survey among Philips Pensioenfonds members to learn about their views on the pension fund’s investment policy. More than 25% of the members who were invited to take part in the survey responded. Our main question was this: what level of sustainability should Philips Pensioenfonds pursue in its investments? We asked questions about responsible investment with your pension savings, and what your thoughts on the subject were. What do you know about responsible investment? What should Philips Pensioenfonds invest in? The responses were largely unanimous: among both active and retired members, an overwhelming majority believe that responsible investment is an important issue. They also feel that Philips Pensioenfonds should do more about sustainability.

If you would like to know more about the findings from the survey and what Philips Pensioenfonds will do with those findings, look out for the next issue of our magazine Generaties, which is due in early January.

More about sustainable investments

MijnPPF temporarily unavailable for changes

Starting 1 January 2021, a new pension provider will be handling your pension. During the final part of the year, as we complete that transition, you will not be able to pass on any changes in MijnPPF. From 23 November until 1 January, you will need to report any changes to the Service Desk of Philips Pensioenfonds.

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If you have left Philips or Signify, but would like to keep receiving our magazine Generaties, send an email with your name and address to algemeenbestuur.ppf@philips.com. You will find two issues of the magazine in your letterbox every year, to keep you informed of the latest news!

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