In the 3rd quarter, we saw good returns on our investment portfolio: an increase of more than 8% since the end of 2023. At the same time, interest rates fell, meaning we have to set aside more money for current and future pensions. Our coverage ratio also fell slightly compared to the end of last year, but at the end of this quarter it still stands at a healthy 116.0%.
The financial situation of the past few months is reflected in the policy funding ratio, which is an average over 12 months. This coverage ratio fell slightly in the third quarter from 116.6% to 116.0% on 30 September 2024.
The current coverage ratio fell from 117.9% to 117.8% in the third 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.
The investments to hedge the interest rate risk (Matching) achieved a return of +2.6% over the third quarter. The investments to achieve an extra return, such as equities, achieved a return of +12.1% over the first three quarters.
The returns of our defined contribution schemes are positive for all age groups over the second quarter: 10.7% for participants aged up to 49, 9.7% for participants aged 50 to 55, 8.8% for participants aged 56 to 61. The return for participants aged 62 and over was 7.8% over the first two quarters.
Read our quarterly report (in Dutch only).