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 2024-01-31 131.5%
ABN AMRO Bank 2024-01-31 128.0% 130.0%
ABP 2024-01-31 111.0% 113.9%
Achmea 2024-01-31 133.8% 137.5%
AHOLD 2023-12-31 121.6% 127.3%
Alliance 2024-01-31 119.6% 119.8%
APF 2024-01-31 119.5% 118.7%
Apothekers 2024-01-31 119.2% 122.7%
Architectenbureaus 2024-01-31 118.7% 125.4%
Astellas 2023-12-31 122.3% 122.3%
AT&T Nederland 2023-12-31 120.0% 120.0%
Atos Origin 2024-01-31 123.1% 122.2%
AVEBE 2024-01-31 133.5% 132.4%
Avery Dennison 2021-05-31 121.8%
Bakkersbedrijf BPF 2024-01-31 113.8% 115.9%
Banden- en Wielenbranche 2024-01-31 104.7% 105.1%
Beroepsvervoer over de Weg 2024-01-31 108.7% 114.2%
Betonproduktenindustrie 2024-01-31 110.2% 111.5%
Bibliotheken openbare 2024-01-31 131.2% 131.1%
Bisdommen 2023-12-31 152.0%
Bouwmaterialen 2024-01-31 109.7% 113.4%
Bouwnijverheid 2024-01-31 124.8% 125.0%
Bpf Foodservice 2023-12-31 117.2% 121.3%
BPL 2024-01-31 115.0% 118.3%
British American Tobacco 2024-01-31 135.0% 132.9%
Brocacef 2023-12-31 126.5%
Calpam 2024-01-31 179.7% 177.7%
Campina 2024-01-31 126.0% 125.2%
Cap Gemini Nederland 2024-01-31 109.6% 109.8%
Cargill 2023-12-31 117.6% 120.1%
Citigroup Nederland 2024-01-31 122.2% 122.1%
Coram 2024-01-31 116.2%
Cosun 2024-01-31 121.7% 129.3%
CRH 2024-01-31 112.8% 115.5%
Delta Lloyd 2024-01-31 128.6% 128.1%
Detailhandel 2024-01-31 119.7% 122.2%
Deutsche Bank Nederland 2023-09-30 123.8% 120.2%
DHL Nederland 2024-01-31 133.4% 137.2%
Dierenartsen 2024-01-31 111.1% 112.2%
Dow 2024-01-31 117.8% 121.8%
DSM Nederland 2024-01-31 121.0% 127.6%
Ecolab 2024-01-31 136.0% 136.0%
Ernst & Young 2023-09-30 118.2%
Essity 2023-12-31 113.4% 118.0%
Forbo 2023-12-31 111.4% 115.2%
Fysiotherapeuten 2024-01-31 115.2% 118.4%
Gasunie 2023-12-31 134.5% 133.9%
Gazelle psf 2024-01-31 124.5% 126.8%
Geveke 2024-01-31 108.9% 110.0%
Grolsche bierbrouwerij 2023-12-31 119.0%
Groothandel 2024-01-31 109.0% 110.6%
Hagee 2024-01-31 124.1% 124.8%
HAL 2022-12-31 194.0% 205.0%
HaskoningDHV 2024-01-31 122.0% 123.4%
Heineken 2024-01-31 134.2% 133.5%
Honeywell 2024-01-31 133.0% 136.0%
Hoogovens 2023-12-31 121.2% 131.2%
Horecabedrijf 2024-01-31 131.0% 130.0%
Huisartsen 2023-12-31 140.6%
Huntsman Rozenburg 2024-01-31 136.2%
IBM Nederland 2024-01-31 134.0% 137.4%
IFF 2024-01-31 131.7% 131.0%
IKEA 2024-01-31 130.0% 133.8%
ING 2024-01-31 153.8%
ING Bank CDC fonds 2024-01-31 129.0% 131.0%
Kappersbedrijf 2024-01-31 105.5% 106.6%
Kas Bank 2024-01-31 127.0% 131.3%
KLM Algemeen 2024-01-31 131.7% 133.6%
KLM Vliegend Personeel 2024-01-31 160.6% 170.8%
KLM-Cabinepersoneel 2024-01-31 122.4% 125.4%
Koopvaardij 2024-01-31 117.9% 120.9%
KPN 2024-01-31 123.4% 123.9%
Kring Progress (Unilever) 2023-08-30 173.0% 173.0%
Lanschot 2024-01-31 118.9% 118.4%
Levensmiddelenbedrijf 2023-12-31 104.2% 104.4%
Lloyd's Register Nederland 2024-01-31 116.9% 117.9%
Loodsen 2023-12-31 120.4% 119.1%
Lucht- en Ruimtevaartlaboratorium 2022-12-31 112.5%
Medewerkers apotheken 2023-12-31 104.3% 105.0%
Media PNO 2024-01-31 114.9% 119.2%
Mediahuis Nederland 2024-01-31 117.1%
Medische Specialisten 2024-01-31 141.8% 145.5%
Mercer 2024-01-31 121.5% 123.0%
Metaal en Techniek 2024-01-31 105.9% 109.8%
Metalektro, bedrijfstakpensioenfonds 2024-01-31 110.1% 113.3%
Metro 2024-01-31 139.3% 138.3%
Mode-, Interieur-, Tapijt- en Textielindustrie 2024-01-31 117.3% 121.3%
Molenaarspensioenfonds 2024-01-31 118.8%
MSD 2023-12-31 150.9% 149.3%
Nederlandsche Bank 2023-12-31 134.8% 135.4%
Nedlloyd 2024-01-31 118.4% 120.4%
NN CDC fonds 2024-01-31 127.0% 129.0%
Notariaat 2024-01-31 110.2% 115.1%
Oak Pensioen 2024-01-31 121.7% 121.7%
Particuliere beveiliging 2024-01-31 122.2% 129.3%
Pensura 2023-12-31 134.2% 133.9%
PepsiCo Nederland 2023-12-31 116.1% 117.0%
Personeelsdiensten 2023-06-30 112.3%
Personeelspensioenfonds APG 2024-01-31 122.3% 122.4%
PGB 2024-01-31 113.3% 116.4%
Philips 2024-01-31 125.2% 126.7%
Pon 2024-01-31 109.9% 110.7%
PostNL 2024-01-31 128.1% 132.6%
Provisum 2024-01-31 144.2% 144.3%
Rabobankorganisatie 2024-01-31 117.0% 118.7%
Rail & Openbaar Vervoer 2024-01-31 128.5% 130.1%
Recreatie (SPR) 2024-01-31 116.5% 116.3%
Rijn- en Binnenvaart 2024-01-31 134.5% 136.1%
Robeco 2024-01-31 145.1% 152.4%
Rockwool 2023-12-31 109.1% 114.3%
Roeiers in het Rotterdamse havengebied 2023-12-31 116.4%
SABIC 2024-01-31 118.0% 123.3%
Sagittarius 2023-12-31 130.8%
Samenwerking Slagersbedrijf 2024-01-31 126.8%
Schilders-, Afwerkings- en Glaszetbedrijf 2024-01-31 125.5% 127.3%
Schoonmaak- en Glazenwassersbedrijf 2024-01-31 111.5% 115.5%
Shell 2024-01-31 133.5% 137.6%
Smurfit Kappa Nederland 2023-12-31 123.1% 123.3%
SNS Reaal Groep 2024-01-31 116.2% 117.5%
Sportfondsen 2023-12-31 126.3% 126.2%
Staples 2024-01-31 125.3% 123.5%
Tandartsen en Tandarts-specialisten 2024-01-31 125.7% 126.7%
TDV 2024-01-31 137.6% 139.2%
Thales 2023-12-31 125.3% 127.8%
TNO 2024-01-31 120.5% 122.4%
Trespa 2024-01-31 110.5% 112.6%
UWV 2024-01-31 118.2% 121.3%
Verloskundigen 2024-01-31 112.5% 117.4%
Vlakglas, Verf, het Glasbewerkings- en het Glazeniersbedrijf 2023-12-31 116.5% 115.4%
Vlees- en Vleeswarenindustrie en de Gemaksvoedingindustrie 2023-12-31 112.5% 116.2%
Vopak 2024-01-31 128.4% 128.6%
Waterbouw BPF 2024-01-31 138.5% 143.1%
Werk en (re)Integratie 2024-01-31 126.2%
Will Niemeijer 2024-01-31 135.9% 138.3%
Witteveen & Bos 2023-12-31 115.0%
Wolters Kluwer Nederland 2024-01-31 129.0% 127.8%
Woningcorporaties 2024-01-31 129.5% 131.6%
Xerox 2023-12-31 112.6% 113.2%
YARA Nederland 2023-12-31 139.9% 139.2%
Zoetwarenindustrie 2024-01-31 117.4% 119.7%
Zorg en Welzijn 2024-01-31 106.9% 111.8%
Zorgverzekeraars 2023-12-31 118.0% 122.4%
Zuivel en aanverwante industrie 2024-01-31 117.9% 122.0%

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