In our third quarterly report of 2022, chairman of the board Jochem Dijckmeester says:
Jochem Dijckmeester, chairman of the board of the Pensioenfonds PGB: “Our results also show a contradictory picture in the third quarter. Partly due to the falling share prices this year, our assets have fallen and we have achieved a negative return on our investments. But due to rising interest rates, we don’t need to keep as much in reserve for current and future pensions. The rising interest rate therefore results in a higher funding ratio. This means that we may also be able to increase pensions as of January.”
Policy funding ratio 30 September 2022: 117.7%
The financial situation of recent months is reflected in the policy funding ratio, which is an average over 12 months. This funding ratio increased in the third quarter from 116 to 117.7% on 30 September 2022. Click here to read more about the development of the policy funding ratio.
Present UFR funding ratio 30 September 2022: 118.5%
The present funding ratio decreased in the third quarter from 121.0 to 118.5%. This concerns the so-called UFR funding ratio, which is a snapshot of the end of the month. Click here to read more about the development of the UFR funding ratio.
Return on investments up to and including 30 September 2022: -26.3%
The return was -26.3% up to and including the third quarter. The investments for hedging the interest rate risk (matching) yielded a return of -43.0% up to and including the third quarter. The investments to achieve an extra return, such as shares, yielded a return of -13.4% up to and including the third quarter.
Investment returns for defined contribution plans 2022
The returns of our defined contribution plans are negative for all age groups up to and including the third quarter: -17.8% for participants aged up to 49, -20.8% for participants aged 50 to 55, -23.8% for participants aged 56 to 61 and -26.7% for participants from 62 years of age.
Want to find out more? Read our quarterly report.