Annual report

On this page you can download the editions of our annual report.
Schermafbeelding Annual Report

The year 2022 was an extraordinary year. The aftermath of the COVID-19 pandemic and the outbreak of war in Ukraine led to rising inflation and interest rates. With remarkable consequences: higher coverage ratios on the one hand, which enabled our clients to index, but on the other hand, considerably lower returns due to losses on interest rate hedging and investments. The COVID-19 pandemic further put increasing pressure on the health and social care sector, in which our largest client PFZW operates. The adoption of the Future Pensions Act (Wtp) by the Dutch House of Representatives was a welcome conclusion to the year. This gives us a clear assignment for the coming years when dealing with issues on which many of our colleagues have contributed ideas.


Read the annual report here.

Jaarverslag Vb 2022

At the end of 2022, PGGM Investments managed a total of over €227.8 billion in assets for its clients. We invest the collective pension assets under our management in pursuit of a high and stable return with an acceptable level of risk and, more and more, with a sharp eye on the impact we can make with our investments. We aim for long-term value creation for people and the environment, in addition to good financial results.

In this report we reflect on the most important developments during 2022:

  • The Russian invasion of Ukraine and its effect on the portfolio
  • The move toward single client asset and fiduciary management
  • Divestments oil and gas
  • The transition to the new pension contract
  • Our strategy 2030


Read the integrated report here: PGGM Investments Integrated Report 2022


For media questions, please contact one of our spokes persons: Maurice Wilbrink. Or call +31 (0)30 277 97 35.