What is a participation value?

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A participation is your share in the investment deposit of your specific age group within the pension fund. Your pension will be paid later from this investment deposit. The participation value is calculated per age group by dividing the total value of the investments in the age group by the number of participations in the deposit. The number of participations you own and their participation value determine the size of your pension pot.

Fictional calculation example:
On 31 December, the total investments amount to € 1,000,000 and there are 20,000 participations. One participation is therefore equal to € 1,000,000: 20,000 = € 50. Suppose you have 30 participations on 31 December. Then your pension pot is 30 participations x € 50 participation value = € 1,500.

Relationship between return and investment value

The development of the participation value depends on the investment returns. If the investments achieve a positive return, the participation value increases. If the result on the investments is negative, the participation value decreases.

Fictional calculation example:
On 31 January, the value of total investments rose to € 1,020,000 due to a positive investment return. The participation value then rises to € 1,020,000: 20,000 = € 51. You have 30 participations. Your pension pot then contains 30 participations x € 51 participation value = € 1,530.


If you work, you accrue pension. New participations are purchased from the pension contribution that is deposited for you. The participation value is therefore also important here.

Fictional calculation example:

For example, if € 50 in premium is deposited for you in December, this will be converted into a participation (€ 50 premium deposit / € 50 participation value = 1 participation). You already had 30 holdings. Due to the premium deposit, you get 1 participation. In total you have 31 participations with a participation value of € 50. Your pension pot then contains 31 x € 50 = € 1,550.