In the 2020 Annual Report (Dutch only), you will find plenty of information about our activities and results in 2020. But you can also read more about our management organisation and how the supervisory board and the pension council look back on 2020.
This infographic gives you an insight into the most important facts and figures from the annual report. Click on the subjects for more information.
Innovation
In 2020, a great deal of attention was paid to renewing our communication and services. We introduced a new website (Dutch and English), which made it more convenient and user-friendly. It is now also more accessible for the visually impaired.
The annual magazine for our members and pensioners was also given a makeover. Op Koers is now a contemporary magazine, in which shipping and its culture are central and current and former seafarers have their say. Op Koers is now available online too. Cheaper and better for the environment!
Furthermore, improvements were made to My Koopvaardij (your personal online pension environment) and a new portal for pension administration was created for employers. This portal is quicker, more user-friendly and it contains employer invoice specifications. These are no longer sent by post.
In this way, we are working towards better service and lower costs.
Fewer members
In 2020, the number of employers affiliated with Bpf Koopvaardij decreased (-10), as did the number of members (-300), with the COVID-19 crisis playing an important role. The number of pensioners also decreased (-677).
At the end of 2020, Bpf Koopvaardij administered the pension scheme for:
| 183 | employers |
| 4,932 | seafarers |
| 19,282 | former seafarers |
| 28,828 | pensioners |
| In total: | 53,042 members (2019 53, 783) |
15% of all members live abroad.
Financial situation
The financial condition of a pension fund can be seen from what is called the funding ratio. In the case of a funding ratio of 100%, the pension fund has precisely the amount of money required to pay out all current and future pensions.
At the beginning of 2020, our current (Dutch Central Bank – DNB) funding level was 113.1%, which was quite good. Due to the COVID-19 crisis, the funding ratio fell sharply to 104.5% in March 2020. Fortunately, the financial position recovered and we ended the year with a funding ratio of 112.6%.
The policy funding ratio (the average funding ratio over 12 months) was 109.2% at the end of 2020. This is below the required limit of 111.5%. The fund therefore has a reserve deficit and has drawn up a recovery plan.
Read more about our current financial situation (Dutch only)
8.7% return on investments
In 2020, our assets rose to over € 4.5 billion. We invest these assets. It is more profitable than saving. This ensures that pensions remain affordable and there is a solid pension for our current and future members.
The COVID-19 pandemic caused a huge contraction in the economy. We were particularly impacted by this in the first quarter of 2020. Given the uncertainties, we temporarily took a number of protective measures to prevent our financial situation from deteriorating further.
Later in the year, the financial markets recovered. In the end, we closed 2020 with a return on investments of 8.7% (2019: 14.4%). Our investments included equity, real estate and corporate bonds.
Read more about our investments (Dutch only)
More informed investing
When investing, we take into account the impact on people, the planet and society. In doing so, we do not lose sight of achieving a sufficient return on investment for the pensions.
In 2020, we selected our equity even more discerningly. We established the conditions that equity must meet and why. For example, we do not want to invest in harmful products, such as tobacco, fur, adult entertainment and nuclear weapons. Our view is that only businesses with good management will continue to perform well in the future.
We will introduce ‘informed selection’ for other investments in the years ahead.
Read more about socially responsible investment (Dutch only)
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 2020 are compared with 2019.
| Costs | 2020 | 2019 |
| Pension administration (administration and communication) |
€ 6.12 million | €6.26 million |
| Costs of pension administration per member (active members and pensioners) |
€ 181.33 | €180.08 |
| Asset management | €17.5 million | € 16.5 million |
The total costs of pension administration have fallen in the past year. Due to a decrease in the number of active participants and pensioners, the costs per member are still slightly higher than in 2019.
The increase in asset management costs is due to higher investment management costs, higher transaction costs and higher general costs.