Association of Investment Professionals in the Netherlands
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'Development of a blueprint to ease the transition under new pension fund reform for alternative investments'

On July 1, 2023, the Dutch senate approved a new pension law. This concluded a 15-year legislative process that saw multiple proposed changes. The new law, which essentially moves the Dutch pension fund system from a defined benefit (DB) to a defined contribution (DC) system, must be implemented by all pension funds by 2028.

This article discusses the significant reforms in the Dutch pension system, shifting from a Defined Benefit (DB) to a Defined Contribution (DC) scheme. The reforms introduces two new regulations: the “Flexibele Premie Regeling” (FPR) and the “Solidaire Premie Regeling” (SPR), focusing on individual pension capital and collective investments.

Download the full report here

The Risks Standards report

The Risk Standards report provides an overview of the parameters since 1999. The effects of an additional year on these parameters are usually quite limited. A regime shift has slightly larger consequences, and such a change occurred in the past year. For the last forty years, there has been a bull market for bonds, with average declining interest rates. Now that interest rates have risen again, there is a chance that the volatility of bonds will remain higher than the average of the last 24 years. Interest rate-dependent volatility is often higher as the interest rate level increases. Furthermore, the duration of bond indices has increased in recent years, as companies and governments issued loans with longer maturities due to lower interest rates. This longer duration leads to additional interest rate risk. 

With this report, CFA Society Netherlands wants to contribute to a careful selection of asset classes and construction of investment portfolios and thus to the quality of investment services in the Netherlands.


Here you can view the Risicostandaarden Beleggingen 2023 in Dutch. 


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Beheren van pensioenvermogen

In samenwerking met SPO heeft CFA Society Netherlands in september 2015 de eerste editie uitgebracht van het boek Beheren van pensioenvermogen - Praktische handvatten voor moeilijke keuzes aan de bestuurstafel. In dit ‘denkboek’ voor bestuurders beschrijven de verschillende auteurs vanuit hun dagelijkse praktijk de nieuwe wereld van pensioenfondsbestuurders. Het is niet een traditioneel lesboek: aan de hand van dit boek weet een bestuurder wat hem of haar te doen staat, niet wat hij of zij allemaal moet weten. Het boek geeft aan de hand van concrete cases inzicht hoe tegen bepaalde zaken kan worden aangekeken. Het pakt die problemen/uitdagingen op die ertoe doen voor een pensioenfondsbestuurder.


De tweede herziende druk is in april 2018 uitgekomen en kunt u hier downloaden

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