Dutch pension funds have shared their latest funding updates, revealing that recent interest rate increases have had a broadly positive impact on liabilities and overall funding levels.

Pensioenfonds PostNL's latest update showed that whilst its policy coverage ratio has fallen slightly year-on-year, from 133.9 per cent in May 2024 to 132.1 per cent in May 2025, the past month saw funding improvements, as its current coverage ratio rose from 129.4 per cent in April 2025 to 132.5 per cent in May 2025.

This was primarily due to an increase in the interest rate over the past month, which had a positive effect on the current coverage ratio.

This was combined with investment increases, which, in total, saw the current coverage ratio rise by 3.1 per cent in May 2025.

Dutch pension fund SNS Reaal also saw a decrease in liabilities amid the rise in interest rates, which saw its current coverage ratio increase from 119.2 per cent to 123.5 per cent.

In addition to this, its policy coverage ratio rose from 119.9 per cent to 120.1 per cent in May 2025.

Pensioenfonds UWV reported a similar trend, as its current coverage ratio rose from 116.4 per cent in April 2025 to 119.5 per cent at the end of May 2025.

However, Pensioenfonds UWV saw almost no change in its policy coverage ratio, which fell slightly from 119.1 per cent in April to 119 per cent in May 2025.

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