Annual report 2023

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 2023

At the end of 2023, our current funding ratio was 109.4% and the policy funding ratio 113.3%. In 2023, we achieved an investment return of 8.7% and increased pensions by 3.26%. Expressed as a percentage of average invested assets, total asset management costs fell from 0.49% to 0.40% by 2023. Expressed as a cost per participant, the total cost of pension management increased slightly in 2023 from EUR 100 to EUR 103. This may be explained by temporary additional investments ahead of the transition to our new pension scheme in 2026.

Towards a new pension scheme

In June 2023, the Future Pensions Act was passed by the Senate. This means that all frameworks for the future pension schema are definitively known and social partners in our industry and we could really get down to work. Much of our time in 2023 was spent preparing for a new pension scheme. At the end of the first quarter of 2024, our social partners reached an outline agreement for a new pension scheme from 1 January 2026.

Investing with financial and social returns

We are committed to achieving our financial objectives in a way that contributes to a livable world. Our Climate Plan sets targets to reduce carbon emissions from our portfolio. By the end of 2023, CO₂ emissions from our equity and corporate bond portfolios were down 65.8% and 41.5% respectively compared to 2019 and our property portfolio was down 11.4% 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 2023, PME had EUR 2.4 billion of 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 manifests 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 contact can be of value to our participants, pension beneficiaries and employers.

Read our 2023 annual report in full online. 

Download our 2023 annual report in full (in PDF format).

Read the press release “2023: PME is Looking Beyond Today”.

Read our post on LinkedIn “2023: PME is Looking Beyond Today”.

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