Our financial position improved slightly in the second quarter thanks to higher interest rates. Our policy funding ratio increased slightly from 116.5% to 116.6% over the same period. The return on our investments for the first half of 2024 amounted to +2.4%. Financially, we feel a bit more comfortable and our buffers are larger. Good news for the switch to the new pension, because if the financial situation allows it, we may also be able to distribute part of our buffer. Pensioenfonds PGB wants to switch to the new pension on 1 January 2027.
Policy coverage ratio 30 June 2024: 116.6%
The financial situation of the past few months is reflected in the policy funding ratio, which is an average over 12 months. This ratio increased slightly in the second quarter from 116.5% to 116.6% on 30 June 2024.
Present UFR coverage ratio 30 June 2024: 117.9%
The current coverage ratio increased from 115.7% to 117.9% in the second quarter. This concerns the so-called UFR coverage ratio, which is a snapshot of the end of the month.
Click here to read more about the development of the UFR coverage ratio and the policy funding ratio.
Return on investments up to and including 30 June 2024: +2.4%
The investments to hedge the interest rate risk (Matching) achieved a return of -5.5% over the first quarter. The investments to achieve an extra return, such as equities, achieved a return of +8.3% over the first two quarters.
Investment Returns Defined Contribution Schemes 20
The returns of our defined contribution schemes are positive for all age groups over the second quarter: 6.2% for participants aged up to 49, 4.9% for participants aged 50 to 55, 3.5% for participants aged 56 to 61. The return for participants aged 62 and over was 2.1% over the first two quarters.
Want to find out more? Read our quarterly report.