The current funding ratio for Dutch pension fund PNO Media fell from 116.4 per cent at the end of October to 114.6 per cent at the end of November, its latest funding update has revealed.

The policy policy coverage ratio, meanwhile, which is a funding benchmark for the financial health of pension funds based on the past 12 months, remained the same at 117.6 per cent.

According to the update, investments and interest rates had the greatest influence on the change in the coverage ratio, while other factors played a smaller role.

In particular, the update showed that while the return on investments was 3.4 per cent in November, which pushed the current coverage ratio up by 3.8 percentage points, the decrease in the calculation interest rate caused the current coverage ratio to fall by 5.1 percentage points.

Despite the slight fall in the funding ratio, the PNO Media board confirmed that it has decided to increase pensions by a maximum of 2.54 per cent as of 1 January 2025.

However, this increase is reliant on the current coverage ratio on 31 December 2024 being no less than 110 per cent after the increase.

This funding information is expected around mid-January 2025, when the group will confirm whether the increase in pensions will go ahead as planned.

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