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Berlin, December 10 / 2009 Michel de Jonge, PGGM Public Affairs

we care about your future. Taking good care of people. Berlin, December 10 / 2009 Michel de Jonge, PGGM Public Affairs. You take good care of people who depend on you, we’ll take good care of you. Good care : High financial return Managable Risks Low costs

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Berlin, December 10 / 2009 Michel de Jonge, PGGM Public Affairs

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  1. we care about your future Taking good care of people Berlin, December 10 / 2009 Michel de Jonge, PGGM Public Affairs

  2. You take good care of people who depend on you, we’ll take good care of you • Good care: • High financial return • Managable Risks • Low costs • But also important (especially for our clients): • - Do good

  3. Roadmap PGGM • Pension system in the Netherlands • PGGM in a nutshell Social pensions and PGGM • Why are social pensions relevant for PGGM? • How to act?

  4. Pension systemin The Netherlands

  5. Dutch Pension Systema three pillar model Private life insurance/savings arrangements funding Supplementary (occupational) pensions (supplements state pension to approx. 70% of salary) funding State pensions € 17,000 (couples) € 12,000 (singles) pay-as-you-go

  6. Dutch Second Pillar Mandatory occupational pension Employers in specific sectors have to provide a pension scheme to their employees which in turn are obliged to participate in that scheme. Pension fund is the owner of the assets Important benefits: System based on funding Separation of the money from the company

  7. PGGM in a nutshell

  8. PGGM is a pension service provider * Concerning our client PFZW, assets including 3 other clients

  9. Four cornerstones: The PGGM Model

  10. PGGM Model PGGM has its roots in health and welfare Paritarian organizations in health and welfare sector created PGGM in 1969 Responsible: ESG aspects In investments In governance of PGGM Social responsible: good pensions for all PGGM is a cooperative; Members decide on the strategy and product portfolio together with the company No shareholders: revenues are re-invested into the company.

  11. Full service pension provider/ asset manager Implementation of collective pension schemes, pension administration and communication; Asset management for pension funds which share our socially responsible vision and investment policy; Management support for pension fund management, including ALM & actuarial services, financial reporting, public affairs and policy support on pension-related legal affairs; Low cost and long term investment return 7,9% (incl. 2008)

  12. Social Pensions and PGGM

  13. Why social pensions relevant for PGGM? Belief in our values = Not for profit and Responsible Belief in our system = Efficient, Collective and Solidary Interest in economic stability (World Bank) =Good pensions go before financial structures Democratic management = Cooperative/ paritarian Empowering civil society = Social cohesion and stability

  14. Efficient, solidary and democratic pension systems as development tool Believe in our values: this does not stop at a national border Pensions do make a difference: It boosts local economy It makes a difference in intergenerational dependency It lowers the average number of children Experience with IFKO

  15. Social Security Operators may share these values Promoting efficient, democratic and solidary pension systems worldwide Not by giving € for free! But by creating a reliable financial infrastructure

  16. Exploring possible actions towards world wide social pensions Contributing from our competences and ideology Support to local social actors (sending specialists as consultancy) Advocacy and lobby International cooperation between operators Close cooperation with dedicated NGO’s

  17. PGGM: We care about your future Questions (after today): Michel.de.Jonge@pggm.nl

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