Pensioenfonds PostNL has seen its policy funding ratio rise to 128.3 per cent at the end of July 2022, up from 127.3 per cent in June.

The policy funding ratio is the average of the current funding ratios of the past 12 months. The funding ratio for July 2022 was 133.1 per cent, which is much higher than the 120.3 per cent recorded in July 2021. However, the current funding ratio is down from June 2021’s 135.7 per cent.

The development of the funding ratio depends on the level of the investments and provisions. The value of the investments rose in July, which had a positive effect on the current funding ratio. On the other hand, after a long period of rising, interest rates have now fallen in July. This in turn had a negative effect on the funding ratio.

“The effect of the fall in interest rates was slightly greater than the effect of the increase in investments. On balance, the funding ratio, therefore, decreased,” the fund stated.

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