Our 2021 Annual Report tells you more about our activities and results. It also tells you how our administrative organisation works, and how the Supervisory Board and the Pension Council view the year 2021.
This infographic clarifies the main facts and figures from the annual report. Click on the various subjects for more information.
Financial situation
The funding ratio tells you whether a pension fund is in good shape financially. In the case of a funding ratio of 100%, the fund has precisely the amount of money required to pay out all current and future pensions.
The Covid-19 pandemic continued to dominate the Netherlands and the rest of the world in 2021. Nevertheless, the financial markets recovered. As a result, the funding ratio increased from 112.6% at the end of 2020 to 119.3% at the end of 2021, allowing us to increase pensions slightly as of 1 January 2022.
The policy funding ratio (the average funding ratio over 12 months) was 109.2% at the end of 2020. This increased to 115.3% at the end of 2021. This increase meant that at the end of 2021 the fund did not need to take new measures to improve its financial position.
Investments
In 2021, our assets remained about the same at €4.5 billion. We invest these assets to allow your pension to grow, for example in shares, real estate, and corporate and government bonds. This is because investing yields a higher return than saving.
In 2021 financial markets recovered after a turbulent Covid-19 year. The value of our investments fell by 0.6% in 2021. This was higher than the return achieved by other similar pension funds. At the same time we also needed less capital in 2021 to pay all the pensions because of rising interest rates. As a result, we ultimately achieved an overall return of 8.8%, in spite of the decrease in investment value.
More informed investing
When investing, we take account of the impact on people, society, and the environment. Since 2020, we have therefore been selecting the shares we invest in even more deliberately. For example, we do not invest in harmful products, such as tobacco, fur, adult entertainment, and nuclear weapons. Of course, we continue to focus on achieving a good return on investment.
We will introduce ‘informed selection’ for other investments in the years ahead.
Read more about socially responsible investment (Dutch only)
Members
In 2021, the number of employers, members, and pensioners at Bpf Koopvaardij decreased. 22% of all members live abroad.
| 177 (-6) | employers |
| 4,842 (-90) | seafarers |
| 19,195 -(87) | former seafarers |
| 28,074 (-754) | pensioners |
| In total: | 52,111 members (2020 53,042) |
Costs
We incur costs for the administration of your pension scheme, e.g. for pension administration, asset management, administrative organisation and communication. In the overview below, the costs in 2021 are compared with 2020.
| Costs | 2021 | 2020 |
| Pension administration (administration and communication) |
€ 6.64 million | € 6.12 million |
| Costs of pension administration per member (active members and pensioners) |
€ 201.73 | € 181.33 |
| Asset management | €17.3 million | € 17.5 million |
active members and pensioners, former seafarers are not included here
The total costs for pension administration increased, as did the costs per member. This is mainly due to additional administrative costs, i.e. costs for determining whether employers should join, for allocating benefits, and for providing information.
The asset management costs have decreased, mainly due to lower transaction costs.