APG today publishes its 2025 Annual Report. Under the theme Building the APG of Tomorrow, the organization looks back on a year in which APG took important steps—both in the transition to the renewed pension system and toward the reality beyond that transition. Thanks to years of improvements in data quality and digitalization, the migration of three major pension funds—bpfBOUW, SPW and Schoonmaak—went almost flawlessly. At the same time, a new strategy outlines the route toward a new organization.
“It was the year in which technology, data and digitalization came together—exactly when it mattered most,” says CEO Annette Mosman in the APG interview marking the publication of the Annual Report.
The Annual Report devotes extensive attention to the results of years of investment in data and digitalization. These investments form a key prerequisite for executing the transition to the renewed pension system in a controlled manner. The decision to implement the new administration system, Festina Finance, played a crucial role in this process.
The importance of the long term
Alongside the transition, APG continued to fulfill its role as a long-term investor for the pension funds it serves, in a world characterized by geopolitical tensions, economic uncertainty and unprecedentedly rapid technological developments. In the interview, Mosman explains:
“As a long-term investor, we are not guided by day-to-day market movements. We focus on structural developments and their long-term impact. That requires calm, analysis and tough choices. Over the past thirty years, investment returns have averaged around 6 percent. That demonstrates why a long-term perspective is so important.”
Strategy 2030
The year 2025 also marked an important moment for the organization itself. With the adoption of Strategy 2030, APG took steps toward a more compact and decisive organization. There was a strong focus on controllability, agility, and the impact of the strategy on employees.
Lessons learned
At the same time, 2025 brought new lessons. Communication with participants proved more complex than anticipated. Clear explanations, good timing and alignment with different target groups are just as critical as technical execution. APG is carrying these lessons forward as it prepares for the transition of the funds that have yet to make the move, including ABP. The coordinating role of pension fund boards also became more visible and more important.
In the Annual Report, you will find APG’s results and figures for 2025, complemented by interviews with, among others, Harmen van Wijnen, Chair of the ABP Board, and Ronald Wuijster, the outgoing CEO of APG Asset Management.
Read the full Annual Report here, or scroll down for more information.
