The Dutch pension fund for medical specialists (SPMS) saw its invested assets grow by €0.9bn in 2024, rising from €11.6bn to €12.5bn, according to its annual report, reflecting an investment return of 8.4 per cent.

According to the results, the fund's coverage ratio at the end of 2024 was 140.2 per cent, while its policy coverage ratio was 143.8 per cent.

The SPMS pension plan has an unconditional annual increase of 3 per cent. At the end of 2024, due to its “good financial situation”, it decided to grant a maximum additional increase of 2.639 per cent, increasing pensions in total by 5.639 per cent.

The fund was also able to reduce the premium for 2025 by 11.4 per cent (maximum premium including partner's pension) compared to 2024. At the same time, accrual increased by 6.9 per cent.

In 2024, the fund had 18,979 participants, consisting of 11,340 men and 7,639 women. There were 7,953 pensioners, 1,938 non-active participants and 9,098 active participants.

In addition to this, the annual report also showed that it provided 211 personal finance scans, 201 quick scans, 255 advice meetings, 372 start meetings and 30 gatherings.

Of the medical specialists who joined the fund in 2024, 70 per cent have had a start meeting.

In 2024, 12.5 per cent of its investment portfolio consisted of investments that have a positive social impact, an increase from 6 per cent in 2023.

The fund also said in its report that it is taking further steps towards a climate-neutral investment portfolio and last year conducted research into its participants' preferences in terms of responsible investment and returns.

The report also set out that on 1 January 2027, it will start working with the new Dutch pension rules.

The Assembly of Delegates of the Professional Pension Association for Medical Specialists (BPMS) unanimously adopted the transition plan in June 2024 and decided to request SPMS to switch to the new rules with retirement.

The fund said: “2024 was a good year for SPMS. Our personal approach ensured that we were voted the best Dutch pension fund. We were also able to increase pensions even more.”

---