Funding ratio October 2020

In the last month the (actual) funding ratio decreased from 96.8% to 95.6%. In the last month the (actual) funding ratio decreased from 96.8% to 95.6%, mainly caused by a disappointing investment return and a further interest rate drop in October. The funding ratio still remains above the critical margin of 89.9%.

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 October, 2020 is 96,8%
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. 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 October, 2020 is 95,6%
The actual funding ratio is the monthly funding ratio. This ratio may show considerable fluctuations and immediately reflects consequences of financial developments.

Development of the actual funding ratio over the past 12 months