Results 2018
For every € 100 we need to pay out for all current and future pensions Forward 
had on average € 140 available in 2018. Additionally and rather exceptional these 
days is that on 1 January 2019 we were able to increase the accrued pensions of 
employees by 4.97%. Positive messages and this despite a (limited) loss on our 
investments. In this Short Annual Report you will find the most important figures 
and other interesting facts relating to 2018. 

Martine Zeegers
VP HR Unilever Benelux & bestuurslid Unilever APF
In % of pensionable 
salary*
Total in 2018
Average per 
employee
Contribution employee
	 3%
€ 	 4 million
€	 1.500
Contribution Unilever
	35%
€ 	 48 million
€	 18.000
A pension costs money, a lot of money. Each year we determine the contributions 
required for the agreed pension accrual. In the table below you can see how much 
you pay as an employee according to the current CLA and how much Unilever 
contributed in 2018.
The reason why pensions cost a lot of money is due to the fact that people are living 
longer on average and because of the low interest rate which we have to use in our 
calculations (the lower the interest rate, the more money we need to have available 
according to the law). In addition, Unilever and the trade unions have agreed a good 
pension scheme. And the better the scheme, the more expensive it is
Forward is in 
good financial shape 
Your pension is worth gold
Short Annual Report
* Funding ratio = capital divided by pension 
obligations. 
Policy funding ratio = average funding ratio 
of 12 consecutive months; this is determi­
native for important decisions (on pension 
increases for example).
* Pensionable salary = annual salary minus approximately € 13,000. This is because in 
addition to your pension you will also receive AOW (state pension). Which is why you do not 
accrue pension over your entire salary.
Diversified growth 
Incl. shares and listed estate
Stable return
Incl. government bonds and mortgages
Cash
57%
37%
6%
Our situation at the end of 2018
Asset mix at the end 
of 2018
Capital
€ 244
million
Pension
Obiligations
€ 186
million
Policy funding 
ratio*
140%
Annual return 
on investments
-1,4%

Do you have 
questions about 
your pension? 
Then visit the 
pension consultation!
The number of active members fell substantially in 2018 due to the sale of BCS and 
the factory in Oss. At the same time this also meant a substantial rise in the number 
of ex-members (left employment but have not yet retired). Because Forward was 
only established in 2015, the number of pension beneficiaries is still low.
False!
Many people think that their pension contributions are used to pay the pensions of the current 
pensioners. This is not true. The contributions that you pay are most definitely used to save for 
your own pension; from that pot of money we will pay your pension in the future. This is not the 
case for the Dutch state pension (AOW); that is probably where this misconception comes from.
	 there is a separate pot of money for increasing the pensions of active members 
during the first years of Forward. Of this pot of € 15 million there is around € 
6.5 million left. In any event this secures a pension increase on 1 January 2020, 
independent of the financial situation of Forward.
	 Forward pursues the same policy for responsible investment (see ESG annex) as 
Progress, the other scheme of the Unilever Pension Fund
	 the youngest of the 12 board members of our pension fund (Kristian Vleugels) is 
only 33 and he finds pensions ‘just plain interesting’.
You will find all the details relating to the past year in our full 2018 annual report. You 
can find this report (only in Dutch) via: 
Unileverpensioenfonds.nl/Forward    Documenten    Publicaties    Jaarverslagen
Stichting Algemeen 
Pensioenfonds Unilever 
Nederland, kring Forward

Postbus 2071, 3000 CB Rotterdam
PensioenInfolijn: (010) 439 44 73
pensioen.infolijn@unilever.com
unileverpensioenfonds.nl
For you we make the effort
True or false?
‘By the time I retire, the pension pot will be empty’
Did you know that...
More about 2018
active participants
2,417
-591
ex-participants
1,707
+972
retirees
94
+22
2   |   Short Annual Report Forward
In 2018 many colleagues used our pen­
sion consultations. We will specifically 
visit your location to this end and you 
can ask us all the questions you may 
have. We will be on location in July. 
Keep an eye out for the invitation at 
you work location and make use of it!
You can of course also first visit our 
pension planner.
















planner.unileverpensioenfonds.nl
€ 32.627,-
You receive from 67 years and 3 months
How much will I receive 
at retirement?