Funding ratio February 2023

In the past month the (actual) funding ratio rose from 116.0% to 118.0%. As the return on investments was negative, the invested capital decreased. As of the end of February, the interest rate has increased which resulted in a decrease in provisions. On balance, this caused an increase in the funding ratio. 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 February, 2023 is 118,0%
The actual funding ratio is the monthly funding ratio. This ratio may show considerable fluctuations and immediately reflects consequences of financial developments.


The policy funding ratio as of February, 2023 is 122,1%
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. By using an average, this funding ratio shows less fluctuations than the actual funding ratio.