In our first quarterly report of 2024, Chairman of the Board Jochem Dijckmeester says: “I look back on a good first quarter of 2024. On 1 January, we increased pensions by 5.2%. This is the third year in a row that we’ve been able to increase pensions. The total increase over that period therefore amounted to 15.2%. And that is good news for all our participants. Financially, we will be in a slightly better position at the end of this quarter, partly thanks to good investment returns. We ended the first quarter with a positive investment return of 3.3%.”
Policy funding ratio 31 March 2024: 116.4%
The financial situation of the past few months is reflected in the policy funding ratio, which is an average over 12 months. This coverage ratio fell slightly in the first quarter from 116.5% to 116.4% on 31 March 2024.
Present UFR coverage ratio 31 March 2024: 115.7%
The current coverage ratio increased from 112.5% to 115.7% in the first quarter. This concerns the so-called UFR coverage ratio, which is a snapshot of the end of the month.
Click here to read more about the development of the UFR coverage ratio and the policy funding ratio.
Return on investments up to and including 31 March 2024: 3.3%%
The return on investments for the first quarter is 3.3%. The investments to hedge the interest rate risk (Matching) achieved a return of -1.2% over the first quarter. The investments to achieve an extra return, such as equities, achieved a return of 6.6% over the first quarter.
Investment Returns Defined Contribution Schemes 20
The returns of our defined contribution schemes are positive for all age groups over the first quarter: 5.4% for participants aged up to 49, 4.7% for participants aged 50 to 55, 3.9% for participants aged 56 to 61. The return for participants aged 62 and over was 3.1% over the first three quarters.
Want to find out more?
Read our quarterly report.