Dutch pension fund PostNL has revealed that its policy funding ratio fell from 136.1 per cent at the end of March to 135.8 per cent at the end of April.

Despite the pension fund’s policy funding ratio, which is the average of the current funding ratios over the past 12 months, falling in April, its current funding ratio increased during the month.

In April, PostNL’s current funding ratio increased from 131.3 per cent to 131.6 per cent.

The pension fund noted that whilst the value of investments remained virtually the same in April, interest rates rose slightly, which had a positive effect on the current funding ratio of 0.3 percentage points.

In March 2022, the pension fund’s current funding ratio was 135.1 per cent, 3.5 percentage points above the current level, with this current funding ratio being excluded from the calculation of the policy funding ratio.

This resulted in the policy funding ratio falling despite the increase in the current funding ratio in April 2023.

In its monthly pension funding update, PostNL stated: “The board regularly discusses developments in the markets and in the investment portfolio with the investment advisers.

“This means that it is closely monitored whether and when additional measures are necessary.

“No additional measures are required at this time. The pension fund also has a crisis plan that offers guidance.”

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