The policy funding ratio the Dutch pension scheme Pensioenfonds PostNL fell slightly to 134.4 per cent in September from 134.8 per cent in August 2023.

The policy funding ratio is the average of the coverage ratios over a 12 month period. The fund explained that the coverage ratio in September 2022 was 141.9 per cent, which is a lot higher than the current coverage ratio of 136.8 per cent explaining the drop in the policy funding ratio. Despite the fall, PostNL said the pension fund is in relatively good shape.

In terms of the monthly change, the coverage ratio rose from 134 per cent in August to 136.8 per cent in September. The fund said that interest rates rose in September, which had a positive effect on the coverage ratio. Although the value of investments fell in September, there was still an overall increase of 2.8 percentage points.

“The board regularly discusses developments in the markets and in the investment portfolio with the investment advisers. This ensures proper monitoring of whether and when additional measures are necessary. No additional measures are necessary at this time. The pension fund also has a crisis plan that provides guidance,” PostNL said.

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