Today, APG is publishing the 2023 annual report. In this report, we look back on an exciting year as an organization. Not least because the new Pensions Act (Future of Pensions Act)(Wtp) went into effect on July 1, 2023. This officially initiated the transition to the renewed system. In the annual report you can read what that means for APG - and the funds we work for - and how we are preparing for a new reality.
It is no coincidence that this new reality is the theme of the 2023 annual report. For although APG has already been making preparations for the transition to a new system for several years, the introduction of the law has really set the course for January 1, 2025: the date on which APG’s first two funds (PPF APG and PWRI) are set to make the transition.
Annette Mosman, APG chairman of the board, says in the foreword to the report: “We no longer had to work on the basis of assumptions we relied on during the three years that we were already preparing for the renewed system. Since July 1, 2023, we have been able to finally pull out all the stops. And since then we have been applying ourselves with even more focus and vigor to the mega-job ahead of us.”
Resilience
That “mega-job,” the transition, is taking place while keeping the current system running at full capacity. “This requires a lot from our organization, from our people,” Mosman states. “There was a huge appeal to our resilience in 2023. It will be no different in the coming years. We need to invest heavily in a successful transition of our funds in the time ahead. But we also want to look to the world beyond: what will APG look like once the dust settles?”
Focus
But 2023 was about more than just the new Pension Act. All the pension funds we work for increased their pensions in 2023. APG also sharpened its strategy in 2023, with an even greater focus on our pension funds. In order to continue to optimally implement their (investment) policy. We are also taking important steps in making our own operations more sustainable.
Read more about the annual report here or download the pdf here.