Short annual report 2023
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In this Short Annual Report:
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Looking back at the financial year 2023
Investments Forward yield 8.1%
For the first time, Forward's short annual report is published exclusively in digital form. This is possible because we can now reach the vast majority of our participants via e-mail. This is a great development, which you will read more about below. But first I would like to look back at 2023, which was a good year for Forward's financial situation.
Forward's assets increased by almost €100 million in 2023, reaching over half a billion euros. This was the result not only of premiums received, but also of an investment return of over 8%.
Liabilities - or 'the value of all pensions ever to be paid out' - also increased (more on this). However, because liabilities rose less than assets, the financial situation improved: the so-called 'policy coverage ratio' went up. It reached 155% by the end of 2023, meaning that in 2023 an average of €1.55 was available for every euro Forward still has to pay out in pensions until the distant future.
Nice to know: the fine financial situation, according to the latest figures at the end of May, has even improved a little.
Joost Folkers
VP Finance Nederland & Ice Cream Europe at Unilever and
non-executive Board Member at the Unilever Pension Fund
Our situation at the end of 2023:
Further in this Short Annual Report:
Who are our participants?
Forward provides pensions for you and nearly 6,000 other (former) Unilever employees. We have been doing this since April 2015 and every year new participants join us. We now reach most of them via digital mail.
Read more...
New Forward pension scheme
In 2023, the new Dutch pension act came into force. This means Forward will have to switch to a new pension scheme in the next few years. Our preparations for this are in full swing. Last year, for instance, we had the quality of the data from our pension administration examined.
To the latest update...
Sustainable investing in 2023
In the area of sustainability, several steps were taken again last year. For instance, we now publish the CO2 emissions of our investments, including a clarification of what measures are or will be taken to reduce these emissions.
To the overview...
Updated complaints procedure
As Unilever Pension Fund, we administer the pension schemes of Unilever Netherlands and inform you as best we can. But what if you are not satisfied with this?
Read more… (Translation available via your browser)
In Unilever Pension Fund’s full annual report 2023 (only in Dutch) you will find all the details on the past year.
Publication: July 2024