For participants receiving benefits from the Collective Variable Pension (CVP), 2025 was also a positive year. The investment return for the gross CVP was -3.9%, while the net CVP recorded a return of -3.2%. While this may seem negative, the value of pension liabilities also declined. As a result, the overall outcome for both CVP modules were positive.

For 2025 as a whole, the result for the CVP was +7%.

To limit fluctuations in pension payments, positive and negative results are spread over a five-year period. This helps provide greater stability in pension payments from year to year.