Slight improvement in our financial position due to positive investment result

In our first quarterly report of 2023, Chairman of the Board Jochem Dijckmeester says: “Despite the turbulent economic situation, our financial position improved slightly in the first quarter of 2023. We achieved a positive investment result of 3% and our current coverage ratio increased slightly. And that is good news for our participants, certainly also because we were able to increase pensions by 7% from 1 January 2023 thanks to the rising interest rate. In 2022, we increased pensions by a total of 3% in a short period of time.”

15 May 2023

Policy funding ratio 31 March 2023: 118.6%
The financial situation of the past few months is reflected in the policy funding ratio, which is an average over 12 months. This ratio decreased in the first quarter from 118.7% to 118.6% on 31 March 2023.

Present UFR funding ratio 31 March 2023: 114.7%
The current coverage ratio increased from 113.2% to 114.7% in the first quarter. 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 and the policy funding ratio.

Return on investments up to and including 31 March 2023: 3%
The return was 3% over the first quarter. The investments to hedge the interest rate risk (Matching) achieved a return of 2.1% over the first quarter. The investments to achieve an extra return, such as equities, achieved a return of 3.1% over the first quarter.

Investment Returns Defined Contribution Schemes 2023
The returns of our defined contribution schemes are positive for all age groups over the first quarter: 3.0% for participants aged up to 49, 2.9% for participants aged 50 to 55, 2.8% for participants aged 56 to 61 and 2.7% for participants from 62 years of age.

Want to find out more? Read our quarterly report.