Read how developments during 2019 impacted us
Every year, Philips Pensioenfonds publishes its annual report on the previous year, to inform you about the pension fund’s financial position and important developments that occurred during that year. Recurring sections in every annual report include key data, the report of the Board of Trustees and the financial statements.
2019 Annual Report
In 2019, the Fund's current funding ratio declined for most of the year. This was caused by falling interest rates until August, which, despite good returns on shares and real estate, had a negative impact on the financial position of Philips Pensioenfonds. Interest rates rose from August and this, combined with continued positive returns on equities and real estate, led to an increase in the current funding ratio in the last months of 2019.
Over the year as a whole, the current funding ratio increased from 114.5% at the end of 2018 to 117.0% at the end of 2019. Despite this, the policy funding ratio decreased from 119.8% (at the end of 2018) to 114.2% (at the end of 2019) in 2019.
The annual report explains how the various developments impacted Philips Pensioenfonds during 2019. It also provides a brief discussion of what to expect in 2020. Find out more in the 2019 annual report. The full report is in Dutch. In chapter 8 you find an English Summary of the Report.