# Stichting Pensioenfonds voor de Gezondheid, Geestelijke en Maatschappelijke Belangen

Stichting Pensioenfonds voor de Gezondheid, Geestelijke en Maatschappelijke Belangen is a Pension Fund based in Apeldoorn, Netherlands.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Apeldoorn, Netherlands
- **Region:** Europe
- **Address:** Apeldoorn, Netherlands
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** sbzpensioen.nl
- **LinkedIn:** https://www.linkedin.com/company/sbzpensioen

## Regulatory record

- **Reports private funds:** No

## About

Dutch Pension for the Healthcare Insurance Industry is a public pension fund based in Apeldoorn, Netherlands. It manages approximately $6.7 billion in assets across four funds, primarily focused on Europe.

## Sectors

- Real Estate
- Infrastructure

## People

- Dominique Dijkhuis — Executive Board Member for Asset Management and Communication (CIO equivalent)

## Questions

### Which employers participate in SBZ Pensioen?

Three Dutch health insurers constitute the core participating employers: Coöperatie VGZ, CZ Groep, and ZLM Verzekeringen. The fund's mandate covers the entirety of the healthcare insurance industry workforce in the Netherlands, pooling pension contributions from these dominant market players into a single collective defined-contribution vehicle.

### Who runs investment decisions at SBZ Pensioen?

Dominique Dijkhuis holds the role of Executive Board Member for Asset Management and Communication, acting as the fund's chief investment officer. She oversees asset allocation strategy, manager selection, and the integration of environmental, social, and governance factors across the portfolio, and represents the fund in its VBDO and Climate Action 100+ commitments.

### What is SBZ's stance on sustainable and responsible investment?

SBZ is an active participant in Dutch and European sustainable finance networks. It is a member of the VBDO, participating in annual responsible investment benchmarking, and a signatory to Climate Action 100+ through the IIGCC. In September 2023, the fund formalized a stricter exclusion policy for fossil fuel producers lacking credible transition plans, a policy it reports through its VBDO disclosure cycle.

### Does SBZ Pensioen make direct investments or use external managers?

SBZ uses a hybrid model. Its infrastructure exposure relies on external managers such as Partners Group, while its Dutch real estate holdings, including NLV B.V., suggest direct or semi-direct exposure to domestic property markets. The specific mix of funds-of-one, direct mandates, and co-investments is not publicly itemized in detail.

### How is SBZ Pensioen structurally different from ABP or PFZW?

Unlike ABP, which covers government and education employees, or PFZW, which covers healthcare workers broadly, SBZ Pensioen serves exclusively corporate employees of the healthcare insurance industry. This narrow, specialized participant base allows the fund board to tailor its liability-driven hedging, risk-sharing formulas, and communication precisely to the career patterns and salary structures of health insurer staff.

## Related profiles

- [Durham University Pension Scheme](https://altss.com/profile/durham-university-pension-scheme)
- [Pensioenfonds Detailhandel](https://altss.com/profile/dutch-pension-fund-for-the-grocery-industry)

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Last updated: 2026-06-03T20:00:00.000Z

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