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Quarterly report

In the second quarter of 2020, favourable developments in the equity market in particular led to a partial recovery in the Fund's financial situation, with returns on our investments up 7% on the previous quarter. The current coverage ratio rose from 90.1% to 94.0% in the second quarter. The policy coverage ratio fell from 100.6% to 97.6%.
 
Quarterly report
In our quarterly report published today, chair of the Board Jochem Dijckmeester says about this:
“Although share prices have recovered somewhat, the effects of the corona crisis are now beginning to show up in disappointing company results and rising unemployment. Of course, pension contributions are invested for the long term. We are keeping a close eye on the developments in order to adjust our policy should this be necessary or desirable.”
 
Policy coverage ratio 30 June 2020: 97.6% 
The financial situation of the past few months is reflected in the policy coverage ratio, which is a 12-month average. The policy coverage ratio fell in the second quarter from 100.6% on 31 March 2020 to 97.6% on 30 June 2020. On our website you can find more information about the development of the policy coverage ratio.
 
Current UFR coverage ratio 30 June 2020: 94.0%
The current coverage ratio rose from 90.1% to 94.0% in the second quarter. This concerns the so-called UFR coverage ratio, which is a snapshot of the position at the end of the month. On our website you can find more information about the development of the UFR coverage ratio.
 
Return on investments up to and including 30 June 2020: -1.3%
The total return on the investments up to and including the second quarter was -1.3%. This is an increase of 7.0% compared to the first quarter, when the return was -8.3%. The investments to hedge the interest rate risk (Matching) showed a return of +8.1% up to and including the second quarter. The investments to achieve an extra return (Return), such as equities, yielded a return of -6.8% up to and including the second quarter.
 
Investment returns defined contribution schemes
The returns of our defined contribution schemes were positive in the second quarter: +8.5% for participants up to age 37; +8.0% for participants aged 38-47; +7.4% for participants aged 48-57; and +6.9% for participants aged 58-68. The returns for this year until the end of June can be found in our quarterly report.
 
Do you need more information? Please consult our quarterly report.

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