Pensioenfonds Waterbouw, the pension scheme for the water management sector, is planning to join Pensioenfonds PGB. The multi-sectoral nature of Pensioenfonds PGB, where sectors retain their own voice while benefiting from the economies of scale offered by a large fund, is a good fit for the water management sector. Moreover, we are uniquely placed to support a successful transfer with our extensive knowledge and experience. The transfer to Pensioenfonds PGB is subject to the approval of De Nederlandsche Bank (DNB).
“We are very pleased and proud that Pensioenfonds Waterbouw has opted for Pensioenfonds PGB. Our first value transfer under the new pension! We fully appreciate the trust that Pensioenfonds Waterbouw and its social partners have placed in us. Waterbouw is a good fit for our fund because we have long-standing experience with the sector and are familiar with the industry’s challenges and characteristics. The affiliation of Pensioenfonds Waterbouw underscores our growth ambition, an ambition we already had and continue to maintain. Growth strengthens our fund’s scale and impact. ensuring we also remain a robust and reliable pension partner for sectors, employers, and participants in the future.“
Hans Veltkamp, Chairman Pensioenfonds PGB.
The implementing organisation of Pensioenfonds Waterbouw will stop provision of all services to the fund after the transition to the new Pensions Act. Pensioenfonds Waterbouw therefore has to find another party for the implementation of the new pension scheme. Stricter requirements and developments in the pension sector also make it increasingly challenging for relatively small pension funds to continue operating independently. The management of Pensioenfonds Waterbouw thus went in search of a future-proof, stable fund for accrued and future pensions. After a rigorous process and in consultation with social partners, Pensioenfonds Waterbouw intends to transfer the accrued pensions to Pensioenfonds PGB through a value transfer.
“Pensions require stability. That is why we looked for a solution that works today in addition to being future-proof. We believe that Pensioenfonds PGB offers this stability. Pensioenfonds PGB posts good results, has solid experience, knows our industry, and aligns with the scheme that we have developed for our participants. This inspires trust for the future.”
Dick Vis, Chairman Pensioenfonds Waterbouw.
Pensioenfonds PGB is expected to switch to the new pension on 1 January 2027. Pensioenfonds Waterbouw is expected to make this transition on 1 July 2027. The accrued pensions will then be transferred to Pensioenfonds PGB through a value transfer. From then on, pensions will be accrued through Pensioenfonds PGB. This is the first value transfer for Pensioenfonds PGB under the new pension.
Pensioenfonds PGB manages the pensions of more than 450,000 participants in 16 different sectors. We have been doing this since 1953, in close partnership with employers and employees, with a focus on each sector’s needs. We are one of the largest pension funds in the Netherlands, with € 37 billion of invested assets.
In November 2026, Pensioenfonds Waterbouw will be marking the 70th anniversary of its existence. The fund is responsible for the pension scheme of the water management sector, manages the pensions of around 11,645 participants and approx. €1.8 billion in pension assets.