The pension agreement. You hear a lot about it, yet it still seems a long way off. What has happened since the last update in July 2020? And what do these developments mean for your pension at Mars Pension Fund? Time for an update.

On March 23, the Mars Pension Fund Board redefined the recovery plan for 2021. Every year we update this plan, based on the latest financial results. Good news: in the updated plan, we expect the policy coverage ratio to be back at or above the required equity (VEV) by the end of next year (2022).

At the end of February 2021, the policy funding ratio is 113.9%. This is an increase compared to January 2021. The policy funding ratio is the average of the current coverage ratios for the last twelve months. The current funding ratio increased from 119.3% to 123.1% in February.

The funding ratio of a pension fund is the ratio of the assets of the pension fund (the capital) to the commitments (the pensions to be paid). The funding ratio indicates whether the pension fund has sufficient funds to pay the pensions now and in the future.

Good news! As of January 1, 2021, we are increasing the pensions for retired members and former members by 0.34%.

Around the summer of 2019, the Cabinet and the social partners concluded an outline pension agreement. They then continued to negotiate for another year on the details of that agreement. But on Friday, June 12, 2020, the cabinet and social partners agreed on this as well.

Would you like to know all about the (financial) developments of the Mars Pension Fund? Then read the annual report 2019. The board has approved this annual report for 2019. You can find all other annual reports on the downloads page.

Since 2014, Ad van Gestel sits on the Accountability Body (VO) of the Mars Pension Fund. He sits in the VO as a representative of the pensioners. We informed you by letter at the end of April that Ad has made himself available for another term of four years.

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Retroactive to January 2020, Mars Pension Fund will charge members in the Associate Selection Plan (ASP) a periodic administration fee. This is necessary because asset manager Vanguard no longer discounts administration fees. On the other hand, the investment costs have gone down. Vanguard invests the pension pot of the ASP plan.