Several Dutch pension funds have shared their funding updates for May, with all funds' current coverage ratios higher than the previous month.

Pensioenfonds Hoogovens' current coverage ratio rose from 123.8 per cent to 129 per cent at the end of May. This figure is 5.2 percentage points above the coverage ratio of 122.2 per cent recorded at the start of 2025.

The discount rate had a positive effect of 6.8 percentage points on the development of the current coverage ratio in 2025.

The value of the invested capital decreased from €10,411m to €10,298m and due to the investment return, the current coverage ratio decreased by 0.1 percentage points.

At the end of May, the policy coverage ratio was 124.1 per cent, unchanged from the end of last month.

The policy coverage ratio is therefore 20 percentage points lower than the coverage ratio for future sustainable indexation (TBI). The TBI is the coverage ratio from which non-granted past supplements may be made up.

Meanwhile, Pensioenfonds PME reported that its current coverage ratio was 117.7 per cent at the end of May 2025, 3.5 percentage points higher than the previous month, when it was 114.2 per cent at the end of April.

The fund also reported that its policy funding ratio was 114.2 per cent at the end of May, up from 113.9 per cent at the end of April.

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