Funding ratio May 2020

Over the last month the (actual) funding ratio slightly increased from 91.3% to 92.9%. This indicates that although the financial situation does not deteriorate further, it also does not improve yet. Rates seem to show a bit more optimism, but interest remains low, however. The market continues to be very volatile, with large upward and downward fluctuations.

In order to recover towards a funding ratio of at least 100% we need higher investment results and the low interest to increase. Whether this is likely to happen in the short term remains to be seen. The Board of APF

Pension Fund adhere to the long term investment policy and do their utmost to steer the pension fund through this crisis. Although we remain hopeful to achieve a timely recovery, the financial situation is not stable yet. Of course we closely monitor the situation and will keep you informed of developments.

The policy funding ratio as of May 2020 is 99.1%
The policy funding ratio is the average of the last 12 actual funding ratios. The policy funding ratio is the most important funding ratio. Policy decisions on indexation and curtailment of your pension are based on this funding ratio at the end of each year. By using an average, this funding ratio shows less fluctuations than the actual funding ratio.

Development of the policy funding ratio over the past 12 months

The actual funding ratio as of May 2020 is 92.9%
The actual funding ratio is the monthly funding ratio. This funding ratio may show considerable fluctuations and immediately reflects consequences of financial developments. You can see this in the graph below.

Development of the actual funding ratio over the past 12 months

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