Overview Dutch pension fund funding ratios in 2023

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In this article you will find information about the pension fund funding ratios in the Netherlands. At the bottom of the page you will find an up-to-date funding ratio list of all Dutch pension funds.

What is a funding ratio?

The funding ratio is the relationship between the total contributed capital (aum: asset under management) of a pension fund and the pension liabilities. In short, it is the ratio between the total available assets and liabilities. The funding ratio formula is as follows:

de formule die wordt gebruikt om de dekkingsgraad van een pensioenfonds te berekenen. Je deelt het totaal pensioenvermogen door het de totale pensioenverplichtingen.

A funding ratio above 100% means that there are more asset under management then there are pension liabilities. A funding ratio below 100% means that the pension fund is underfunded. In that case the pension fund has not enough assets to meet the current pension obligations.

For example: If a pension fund has € 105 in assets under management and € 100 worth of liabilities. The funding ratio is 105%.

Difference between funding ratio and policy funding ratio

The funding ratio (also known as the monthly funding ratio) is calculated monthly. It is a snapshot of the financial position of the pension fund.

The policy funding ratio is the average funding ratio of the past twelve months. The policy funding ratio is used to determine whether the pensions can be increased (indexation) of should be reduced (cut).

Law

When the policy funding ratio is below the required level, the pension fund must write a recovery plan to return to the required level within 10 years. If this is not possible or if the policy funding ratio is below 105% over 5 years, the pension fund must reduce (cut) its pensions.

Top 5 pension funds

The graphs below shows the funding ratio of the top 5 largest pension funds in the Netherlands. The downward trend is mainly caused by a fall of the interest rate. In addition, the corona crisis (March 2020) also had a negative effect on the funding ratio.

Het verloop van de dekkingsgraad van de 5 grootste pensioenfondsen (ABP, Metaal en Techniek, Zorg en Welzijn, Bouwnijverheid en Metalektro) in Nederland.

List of funding ratios in The Netherlands

Below you find an overview of the funding ratios and policy funding ratios of all Dutch pension funds. The list shows the most recent published funding ratio. This data is updated weekly in our database.

Pension fund Date Funding ratio Policy funding ratioPolicy funding ratio
Abbott Nederland 2023-04-30 131.7%
ABN AMRO Bank 2023-03-31 137.0% 136.0%
ABP 2023-04-30 112.7% 117.8%
Achmea 2023-04-30 136.0% 140.2%
Ahold 2023-04-30 125.4% 127.2%
Alliance 2023-04-30 118.6% 121.7%
Aon Groep Nederland 2023-02-28 140.9% 137.4%
APF 2023-03-31 116.5% 121.6%
Apothekers 2023-04-30 121.5% 118.2%
Architectenbureaus 2023-04-30 124.3% 125.1%
Astellas 2023-03-31 118.3% 121.9%
AT&T Nederland 2023-03-31 118.0% 123.0%
Atos Origin 2023-04-30 119.4% 119.1%
AVEBE 2023-04-30 129.0% 130.9%
Avery Dennison 2021-05-31 121.8%
Bakkersbedrijf BPF 2023-04-30 113.5% 111.9%
Banden- en Wielenbranche 2023-03-31 101.2% 100.3%
Beroepsvervoer over de Weg 2023-04-30 113.6% 112.0%
Betonproduktenindustrie 2023-04-30 110.7% 111.5%
Bibliotheken openbare 2023-03-31 127.3% 132.3%
Bisdommen 2023-03-31 157.6%
Bouwmaterialen 2023-03-31 109.5% 110.8%
Bouwnijverheid 2023-04-30 123.3% 130.1%
Bpf Foodservice 2023-03-31 117.4% 120.5%
BPL 2023-04-30 117.0% 119.5%
British American Tobacco 2023-04-30 129.8% 134.3%
Brocacef 2023-04-30 125.1%
Calpam 2023-04-30 173.2% 189.1%
Campina 2023-04-30 123.6% 130.4%
Cap Gemini Nederland 2023-04-30 108.8% 107.8%
Cargill 2023-03-31 117.5% 116.2%
Citigroup Nederland 2023-04-30 119.1% 123.2%
Coram 2023-04-30 114.0%
Cosun 2023-04-30 128.9% 129.8%
CRH 2023-04-30 113.9% 112.5%
Croda 2023-04-30 138.7%
Delta Lloyd 2023-03-31 125.3% 132.9%
Detailhandel 2023-04-30 120.3% 122.0%
Deutsche Bank Nederland 2023-03-31 118.4% 119.4%
DHL Nederland 2023-04-30 136.9% 141.0%
Dierenartsen 2023-04-30 110.9% 115.1%
Dow 2023-03-31 124.0% 125.0%
DSM Nederland 2023-04-30 126.7% 128.8%
Ecolab 2023-03-31 131.9% 131.0%
Ernst & Young 2022-12-31 116.5%
Essity 2023-03-31 114.9% 116.7%
Forbo 2023-03-31 112.7% 116.7%
Fysiotherapeuten 2023-04-30 117.2% 116.7%
Gasunie 2023-03-31 129.6% 143.6%
Gazelle psf 2023-04-30 123.2% 126.5%
Geveke 2023-04-30 109.5% 110.0%
Grolsche bierbrouwerij 2023-03-31 119.0%
Groothandel 2023-04-30 110.8% 109.6%
Hagee 2023-04-30 123.0% 122.4%
HAL 2022-12-31 194.3%
HaskoningDHV 2023-04-30 122.0% 127.1%
Heineken 2023-04-30 129.5%
Honeywell 2023-04-30 133.7% 138.4%
Hoogovens 2023-04-30 129.6% 130.0%
Horecabedrijf 2023-04-30 126.0% 127.0%
Huisartsen 2022-12-31 144.0%
Huntsman Rozenburg 2023-04-30 133.1% 137.2%
IBM Nederland 2023-04-30 137.9% 146.4%
IFF 2023-04-30 128.2% 129.9%
IKEA 2023-04-30 129.0% 125.3%
ING 2023-04-30 157.3%
ING Bank CDC fonds 2023-02-28 129.0% 124.0%
Kappersbedrijf 2023-04-30 103.9% 103.9%
Kas Bank 2023-04-30 135.4% 133.5%
KLM Algemeen 2023-04-30 129.0% 135.4%
KLM Vliegend Personeel 2023-04-30 170.7% 167.9%
KLM-Cabinepersoneel 2023-04-30 124.1% 126.2%
Koopvaardij 2023-04-30 120.3% 123.0%
KPN 2023-04-30 122.2% 127.1%
Kring Progress (Unilever) 2023-04-30 169.0% 173.0%
Lanschot 2023-04-30 115.8% 118.7%
Levensmiddelenbedrijf 2023-04-30 101.3% 99.6%
Lloyd's Register Nederland 2023-04-30 115.1% 113.8%
Loodsen 2023-04-30 116.5% 120.8%
Lucht- en Ruimtevaartlaboratorium 2022-12-31 112.5%
Medewerkers apotheken 2023-04-30 103.0% 100.1%
Media PNO 2023-04-30 118.3% 120.6%
Mediahuis Nederland 2023-03-31 114.6% 123.4%
Medische Specialisten 2023-04-30 144.6% 144.1%
Mercer 2023-04-30 121.7% 122.6%
Metaal en Techniek 2023-04-30 108.6% 108.6%
Metalektro, bedrijfstakpensioenfonds 2023-04-30 112.3% 112.6%
Metro 2023-04-30 134.4% 137.6%
Meubelindustrie en Meubileringsbedrijven 2023-04-30 119.6% 120.6%
Mode-, Interieur-, Tapijt- en Textielindustrie 2023-03-31 117.5% 117.5%
Molenaarspensioenfonds 2023-04-30 116.3% 114.8%
MSD 2023-03-31 151.2% 148.7%
Nederlandsche Bank 2023-03-31 135.6% 134.4%
Nedlloyd 2023-04-30 120.3% 131.0%
Nielsen AC 2022-07-31 119.7%
NN CDC fonds 2023-04-30 126.0% 129.0%
Notariaat 2023-04-30 113.7% 115.6%
Particuliere beveiliging 2023-04-30 128.4% 130.2%
Pensura 2023-03-31 130.4% 139.0%
PepsiCo Nederland 2023-04-30 115.3% 117.6%
Personeelsdiensten 2022-12-31 112.3%
Personeelspensioenfonds APG 2023-03-31 120.0% 126.5%
PGB 2023-04-30 116.2% 118.1%
Philips 2023-04-30 126.2% 128.4%
Pon 2023-04-30 108.7% 107.2%
PostNL 2023-04-30 131.6% 135.8%
Provisum 2023-04-30 143.8% 149.2%
Rabobankorganisatie 2023-04-30 120.2% 119.7%
Rail & Openbaar Vervoer 2023-04-30 128.6% 133.6%
Recreatie (SPR) 2023-04-30 113.3% 110.1%
Rijn- en Binnenvaart 2023-03-31 131.3% 135.4%
Robeco 2023-04-30 149.6% 150.3%
Rockwool 2023-03-31 111.5% 111.6%
Roeiers in het Rotterdamse havengebied 2023-03-31 118.7%
SABIC 2023-04-30 122.8% 125.4%
Sagittarius 2023-04-30 128.6%
Samenwerking Slagersbedrijf 2023-03-31 132.9%
Schilders-, Afwerkings- en Glaszetbedrijf 2023-04-30 125.1% 129.3%
Schoonmaak- en Glazenwassersbedrijf 2023-04-30 113.3% 113.1%
Shell 2023-04-30 137.8% 140.7%
Smurfit Kappa Nederland 2023-03-31 120.3% 120.4%
SNS Reaal Groep 2023-03-31 115.6% 117.2%
Sportfondsen 2023-04-30 135.8% 132.8%
Staples 2023-04-30 121.8% 125.6%
Tandartsen en Tandarts-specialisten 2023-03-31 125.4% 124.7%
TDV 2023-04-30 138.2% 140.6%
Thales 2023-04-30 126.7% 129.6%
TNO 2023-04-30 124.9% 129.9%
Trespa 2023-03-31 111.9% 110.5%
UWV 2023-04-30 120.2% 121.9%
Verloskundigen 2023-03-31 114.2% 113.3%
Vlakglas, Verf, het Glasbewerkings- en het Glazeniersbedrijf 2023-03-31 112.3% 111.0%
Vlees- en Vleeswarenindustrie en de Gemaksvoedingindustrie 2023-03-31 112.0% 110.0%
Vopak 2023-04-30 126.2% 130.7%
Waterbouw BPF 2023-04-30 141.2% 140.5%
Werk en (re)Integratie 2023-04-30 130.8%
Will Niemeijer 2023-03-31 134.3% 133.4%
Witteveen & Bos 2023-04-30 120.8%
Wolters Kluwer Nederland 2023-03-31 125.4% 129.7%
Woningcorporaties 2023-04-30 130.1% 132.4%
Xerox 2023-04-30 112.2% 113.2%
YARA Nederland 2023-03-31 146.3% 141.3%
Zoetwarenindustrie 2023-04-30 116.8% 120.3%
Zorg en Welzijn 2023-04-30 110.7% 112.2%
Zorgverzekeraars 2023-04-30 121.8% 122.2%
Zuivel en aanverwante industrie 2023-04-30 118.0% 116.1%

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