Several Dutch pension funds have reported increased funding ratios for June.

Pensioenfonds PostNL’s policy funding ratio (the average of the funding ratios over the past 12 months) increased to 132.8 per cent in June, up from 132.6 per cent in May. In addition, its funding ratio for June stood at 134.2 per cent, up from 133.9 per cent in May.

The pension fund said interest rates fell slightly over the past month, from 2.69 per cent to 2.63 per cent, which led to an increase in the technical provision causing a -0.8 percentage point drop in the funding ratio.

However, this was outweighed by a positive return on investments of €100.3m, leading to a 1.1 percentage increase in the funding ratio.

Pensioenfonds SNS Reaal also saw the value of its investments increase but its impact on the funding ratio was offset by a decline in interest rates that saw liabilities increase. This led to an increase in the current funding ratio from 121.2 per cent to 121.5 per cent.

Furthermore, Pensioenfonds UWV reported that its policy funding ratio for June stood at 121.3 per cent, up from 121.1 per cent in May. Its current funding ratio at the end of June is 121.9 per cent, up from 121.4 per cent in the previous month.

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