The policy funding ratio of Pensioenfonds PGB remained stable in the second quarter (Q2) of 2024, with a 0.1 percentage point increase.

Publishing its interim results, the pension fund revealed its policy funding ratio at the end of Q2 was 116.6 per cent, up from 116.5 per cent at the end of the first quarter.

Furthermore, its ultimate forward rate (UFR) funding ratio, increased from 115.7 per cent to 117.9 per cent in Q2. In the first half of 2024, the pension fund made an investment return of 2.4 per cent.

Regarding the transition to the new Dutch pension system, PGB is intending to switch on 1 January 2027. The pension fund hopes that the healthy financial situation of the fund will mean it can distribute some of its buffer.

In terms of its defined contribution scheme, pensioenfonds PGB said the returns in Q2 were positive for all age groups. The results were: 6.2 per cent for participants aged up to 49, 4.9 per cent for participants aged 50 to 55, 3.5 per cent for participants aged 56 to 61. Finally, the return for participants aged 62 and over was 2.1 per cent over the first two quarters.

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