In the past month the (actual) funding ratio has decreased from 124.7% to 120.6%. As the return on investments was positive, the invested capital increased. As of the end of July, the interest rate has decreased which resulted in an increase in provisions. However, an increase in provisions was also due to a pension increase of 2.7% as of 1 August. Also because of that increase the funding ratio has decreased. Provisions refer to the money that the pension fund must reserve to be able to pay all future pensions.

The actual funding ratio as of July, 2022 is 120.6%
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

The policy funding ratio as of July, 2022 is 118,2%
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