The (actual) funding ratio at the end of 2022 has been adjusted to 115.2%. The reason for the adjustment is the update of the value of the investments at the end of 2022. In the past month the (actual) funding ratio rose: from 115.2% to 116.0%. As the return on investments was positive, the invested capital increased. Interest rates fell in January, which caused an increase in provisions. On balance, this caused a slight increase in the funding ratio. Provisions refer to the money that the pension fund has to reserve in order to be able to pay out all pensions in the future.

The actual funding ratio as of January, 2023 is 116.0%
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 January, 2023 is 122.0%
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