How is TNO Pension Fund doing?
Suzanne van Kooten, the director of TNO Pension Fund, shares her vision on recent developments. What stood out and what does this mean for our pension fund?
Dear Reader,
We are already a few months into 2025 and it has been anything but a smooth start. We are seeing a great deal of turmoil in global politics, for example, which could eventually affect the financial markets. Currently, however, the fund is still in good shape with a funding level above 120%. In addition, the fund has continued the additional work towards achieving the new pension system in 2025 unabated. Step by step, it is starting to become more concrete what the new pension scheme will look like.
In early February, I updated you on the developments surrounding the new pension scheme in a successful webinar – with nearly 900 live viewers and currently a total of over 1,100 total viewers – together with my colleague Hans Veltman and Chair of the Board of TNO Pension Fund Nancy Westerlaken.
During that webinar, we talked, among other things, about the Transition Plan delivered by the social partners (TNO Board of Management and TNO Works Council). This is an important milestone on the way to the new pension scheme. The Transition Plan includes a description of the new pension scheme and calculations showing how the new scheme compares to the current scheme. You can, of course, view the Transition Plan yourself, which is also available on the TNO Pension Fund website under 'Documents'.
In this Life & Pension, you can also read more about the Transition Plan in the update on the new pension scheme. In addition, we pay extra attention to members who will retire or who want to retire within the next five years. How will your pension be affected when the new scheme takes effect?
In addition to preparations for the new pension scheme, there is of course much more happening. After all, all other pension work will also continue. That also makes it quite an intense time for all of the Board members and others involved. I greatly appreciate everyone's commitment, because that is how together we look after the pensions of all our members and pension beneficiaries of TNO Pension Fund. For example, in this Life & Pension, Carolien van der Vliet tells you about sustainable investing and the steps being taken towards biodiversity.
Finally, something different: our oldest TNO Pension Fund participant is 110 years old. I also mentioned this briefly during the webinar. In fact, Jan van Ierland is the oldest Dutch man born in the Netherlands. He has been retired for 46 years, so we thought it would be a unique opportunity to hear his story. The Life & Pension paid him a visit. You can read his story later in this issue.
In short, there is once again plenty to read in this Life & Pension. I hope you'll enjoy reading the magazine!
Suzanne van Kooten director