100 years ago, in 1922, ABP was founded, the pension fund for government and education. Now, a century later, the Netherlands has one of the best pension systems in the world and that has brought us a lot. How do we ensure a good collective pension in a livable society in the next 100 years? ABP and its administrator APG (until 2008 they were one organization) pay attention to these themes in this special anniversary year.
The General Civil Pension Fund was established on 1 July 1922. When it was founded, the number of participants was about 90,000. By the end of 2021, that participant base had grown to 3.1 million participants, of which almost 1 million were pensioners, including more than six hundred also 100-year-olds.
In 1996, ABP, which until then was under the Ministry of Finance, was privatized. The board consisted of representatives of employers and employees. The privatization enabled ABP to broaden its investment horizon. In addition to traditional government bonds, more and more investments were made in equities and other categories, including worldwide. In 2008, ABP was split into Stichting Pensioenfonds ABP and the newly established Algemene Pensioen Groep NV (APG). APG has grown into one of the world's largest executive organizations, which provides the pension administration and manages the investment portfolio for several pension funds. The Algemeen Burgerlijk Pensioenfonds continued under the name ABP and grew into one of the largest pension funds in the world.
Harmen van Wijnen, Chairman of the Board of ABP: “We are celebrating ABP's 100th anniversary. The idea behind the decision 100 years ago to take care of a pension together is rock solid to this day. It connects young and old, sick and healthy, workers and retirees, and the individual and society. That is the core and the strength of our unique pension system. Together with the AOW, it also ensures that poverty among the elderly is much less common than in neighboring countries. In the next 100 years we want to jointly continue to build a good pension for our participants in a liveable world. For this, our pension system must be adapted to the current times. So that we will continue to have one of the best systems in the world in the future.”
Good income
Annette Mosman, chair of APG: “We have been together for 100 years, first within ABP, and from 2008 as an independent executive organization, but still together with ABP. We share a rich history and a lot of experience. And that comes in handy. After all, we are on the eve of one of the biggest changes to our pension system in the past century. In the coming years, APG will be fully focused on the implementation of the transition to the new pension system. It is our task, together with ABP and our other funds, to ensure a pension administration in which everyone will soon have a good income and in which it is clear and understandable for young and old how their pension stands.”
In the second half of 2022, ABP and APG will pay attention to '100 years of the pension of the Netherlands'. Fund and executor seize this moment to look back and forward; ABP and APG look back in history and collect 100 stories from participants (see www.pensioenvannederland.nl). We also celebrate participants who turn 100 in the same year as ABP with a congratulation and flowers. An exhibition in Heerlen and Amsterdam is also planned for the autumn. We are also working on a documentary about the value of a pension that will also be shown online. Would you like to know more and stay informed about the activities? Go to www.pensioenvannederland.nl