Several Dutch pension funds have reported that their current funding ratios increased in June 2023.

Dutch pension fund PGB revealed that its current funding ratio rose from 115.8 per cent at the end of May 2023 to 117 per cent at the end of June 2023.

Despite this, as with many Dutch pension funds in June, PGB’s policy funding ratio, which is the average of the previous 12 months’ current funding ratios, fell during the month, from 117.5 per cent to 117.1 per cent during the same period.

Pension fund PostNL reported that its current funding ratio increased by 0.9 percentage points to 132.6 per cent in June, with the improvement primarily attributed to positive investment returns over the month.

However, PostNL’s policy funding ratio declined in June, from 135.4 per cent to 135.2 per cent.

The current funding ratio of pension fund SNS Reaal improved from 116.1 per cent to 117 per cent over the month.

SNS Reaal noted that investment returns increased in June, and while liabilities also rose, this was partly offset by an increase in value of the matching portfolio.

Due to the improvement in equity value, the current funding ratio saw an improvement of around 0.5 percentage points, while a change in the valuation method of the real estate portfolio led to a 0.4 percentage point rise.

Meanwhile, SNS Reaal’s policy funding ratio remained the same at 116.8 per cent in June.

Pension fund Detailhandel revealed that its current funding ratio increased from 121.2 per cent to 121.9 per cent over the month, while its policy funding ratio fell from 121.7 per cent to 121.4 per cent.

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