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Coverage ratio

The coverage ratio allows you to see how we stand financially.

The coverage ratio is the relationship between our capital and the pensions that we must pay. Is that 100%? Then we have exactly enough money to pay out the pensions. But the government requires pension funds to have a buffer. Thus a high coverage ratio is important.

There are 2 coverage ratios

1. Present UFR funding ratio

This is the funding ratio at one specific moment. The UFR funding ratio is determined each month using the actuarial interest rate the Dutch Central Bank requires Pensioenfonds PGB to use to calculate its liabilities. The liabilities are made up of the capital needed to pay out the pensions now and in future. In July 2017, the UFR funding ratio is increased 105.9% (30 June 2017) to 107.3% (31 July 2017).

2. Policy funding ratio
This is the average coverage ratio over the last 12 months. Based on this coverage ratio, the board decides each year whether the pensions can be increased. This coverage ratio can be found on the website.

Development of the policy funding ratio


Coverage ratio

​July 2017​101.8%
​June 2017​100.8%
May 2017​  99.9%
April 2017​  99.1%
March 2017  ​98.4%
February 2017  ​97,6%
January 2016  96.7%
December 2016  96.0%
November 2016  96.0%
October 2016  96.0%
September 2016  96.2%
August 2016  96.4%