Lífeyrissjóður verzlunarmanna - Ársskýrsla 2020

Ársskýrsla Lífeyrissjóðs verzlunarmanna / Annual Report 2020 Financial Indicators Common Pension Fund 2020 2019 2018 2017 2016 Financial position based on actuarial valuation Net assets in excess of total liabilities 10.9% 8.6% 5.4% 6.4% 4.2% Net assets in excess of accrued liabilities 17.6% 14.4% 7.3% 9.9% 9.0% Return on investment Net nominal return on investment * 14.7% 18.7% 4.3% 7.6% 0.9% Real return on investment * 11.0% 15.8% 1.1% 5.9% -1.0% Net real return on investment * 10.8% 15.6% 1.0% 5.7% -1.2% Net nominal return on investment (at market price) * 14.8% 19.7% 4.4% 7.9% - Net real return on investment (at market price) * 11.0% 16.6% 1.1% 6.0% - Net real return (five-year average) 6.2% 6.1% 4.8% 5.9% 6.4% Net real return (ten-year average) 6.7% 6.0% 4.6% 1.7% 1.2% Net real return (tventy-year average) 4.5% 4.1% 3.9% 4.2% 4.4% Investment securities Listed holdings in companies and funds 52.6% 48.2% 44.3% 43.9% 41.0% Listed bonds 28.2% 28.6% 33.6% 34.5% 38.0% Unlisted holdings in companies and funds 8.1% 7.7% 6.7% 6.6% 7.6% Unlisted bonds 11.1% 15.5% 15.4% 15.0% 13.4% Bank deposits 0.0% 0.0% 0.0% 0.0% 0.0% Other investments 0.0% 0.0% 0.0% 0.0% 0.0% Investment securities by currencies Securities in Icelandic króna 56.5% 60.3% 64.6% 66.9% 73.0% Securities in other currencies 43.5% 39.7% 35.4% 33.1% 27.0% Number of Number of active fund members 35,697 36,503 36,788 36,400 35,077 Number of total fund members at year-end 175,193 174,963 171,158 166,211 160,817 Number of pensioners 19,813 18,452 17,083 15,820 14,672 Staff (full-time equivalent position) 49.7 46.8 43.4 40.8 41.0 Pension payments Old age pension 76.3% 76.4% 75.5% 74.5% 73.9% Disability pension 18.2% 17.8% 18.4% 19.0% 19.2% Spouse’s pension 4.7% 5.1% 5.3% 5.6% 6.0% Children’s allowance 0.8% 0.7% 0.8% 0.9% 0.9% Other financial indicators Pensions as percentage of premiums 53.3% 46.0% 44.0% 45.7% 47.9% Operating expenses as percentage of premiums 3.4% 3.0% 2.9% 3.0% 3.2% Net investment income as % of average asset position 13.8% 17.2% 4.3% 7.4% 1.0% Operating expenses as % of average asset position 0.13% 0.14% 0.15% 0.14% 0.14% Amounts at fixed prices (in millions of Icelandic króna) Total premiums 35,933 38,133 36,483 32,690 28,629 Total pensions 19,142 17,556 16,040 14,930 13,707 Total net investment income 129,994 140,910 31,598 51,679 6,880 Total operating expenses 1,227 1,153 1,071 994 920 Increase in net assets for pension payments 145,559 160,335 50,970 68,445 20,881 * Return is calculated on the basis of FME rules (assets are not valued on daily basis) 140