Total
20248,802 persons
20258,799 persons
-0.03% decline
2025 in key figures: an overview of participants, assets, contributions, return, funding ratios and indexation.
Participants
Active
20242,868 persons
20252,664 persons
-7.1% decline
Deferred participants
20243,345 persons
20253,389 persons
+1.3% growth
Pensioners
20242,589 persons
20252,746 persons
+6.1% growth
Financial key figures
Pension liabilities
20242,616 million euro
20252,279 million euro
-12.9% decline
Pension liabilities are the pensions that SPF must pay out now and in the future.
Pension assets
20243,065 million euro
20252,958 million euro
-3.5% decline
Pension assets are the assets of SPF: investments plus other receivables minus other liabilities.
Contributions received
202459.3 million euro
202558.7 million euro
-1% decline
Contributions received are the contributions paid by employer and employee for pension accrual.
Pension payments
202478.6 million euro
202583.7 million euro
+6.5% growth
Pension benefit payments are the benefits for pensions that have already commenced.
Total invested assets
20243,060.7 million euro
20252,957 million euro
-3.4% decline
Total invested assets is the total value of the investment portfolios.
Investment return
Investment return
2025-2.3%
Investment return shows how much return SPF achieved on its investments during the year. This can be interest (on bonds), dividends (on shares), or the increase or decrease in the market value of a pension fund's assets.
Funding ratios
Funding ratio
Start 2025117.1%
Eind 2025129.8%
+12.7% growth
The funding ratio is a measure of SPF's financial position, expressed as a percentage. This percentage represents the ratio between SPF's assets and all financial liabilities, now and in the future. The higher the funding ratio, the more certain it is that SPF can pay out the promised pensions.
Policy funding ratio
Start 2025119.7%
Eind 2025124%
+4.3% growth
The policy funding ratio is the average funding ratio over the last 12 months.
Required funding ratio
Start 2025120%
Eind 2025119.8%
-0.2% decline
The required funding ratio indicates how high SPF's policy funding ratio must legally be. If the policy funding ratio falls below the required funding ratio, SPF must submit a recovery plan.
Minimum required funding ratio
Start 2025104.2%
Eind 2025104.2%
+0% growth
The minimum required funding ratio indicates the absolute lower limit. If SPF's policy funding ratio falls below this, there is a funding deficit. SPF then has too little assets to be able to pay pensions in the future. If the policy funding ratio remains below the minimum required funding ratio for 5 years, SPF must reduce (cut) the (accrued) pensions.
Indexation
Indexation for pensioners and deferred participants
20241.01%
20251.57%
SPF aims to increase pensions every year and allow them to grow in line with price or wage increases. This is called indexation or granting of supplements.
Indexation for active participants
20241.65%
20250.52%
SPF aims to increase pensions every year and allow them to grow in line with price or wage increases. This is called indexation or granting of supplements.