Overview Dutch pension fund funding ratios in 2022

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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 2021-11-30 118.7%
ABN AMRO Bank 2021-11-30 130.0% 134.0%
ABP 2021-11-30 104.2% 101.4%
Achmea 2021-11-30 126.7% 124.2%
Ahold 2021-11-30 114.0%
Alliance 2021-11-30 124.9% 120.7%
Aon Groep Nederland 2021-11-30 130.9% 128.1%
APF 2021-11-30 111.7% 109.6%
Apothekers 2021-11-30 100.1% 100.4%
Architectenbureaus 2021-11-30 119.7% 117.8%
Astellas 2021-11-30 111.8% 109.9%
AT&T Nederland 2021-09-30 112.0% 108.0%
Atos Origin 2021-10-31 103.9% 102.0%
Atradius 2021-10-31 119.5% 116.8%
AVEBE 2021-11-30 125.8% 123.9%
Avery Dennison 2021-05-31 121.8%
Bakkersbedrijf BPF 2021-11-30 97.3%
Banden- en Wielenbranche 2021-11-30 94.6% 93.5%
Beroepsvervoer over de Weg 2021-11-30 107.9% 106.6%
Betonproduktenindustrie 2021-11-30 110.2% 109.3%
Bibliotheken openbare 2021-11-30 125.4% 122.3%
Bisdommen 2021-11-30 141.5%
Blue Sky Group 2021-11-30 103.4% 102.7%
Bouwmaterialen 2021-11-30 98.6% 98.9%
Bouwnijverheid 2021-11-30 121.2% 118.2%
Bpf Foodservice 2021-11-30 110.3% 109.2%
BPL 2021-11-30 99.8% 98.9%
British American Tobacco 2021-11-30 118.9% 117.4%
Brocacef 2021-11-30 111.7%
Calpam 2021-11-30 192.7% 185.8%
Campina 2021-11-30 129.0% 125.0%
Cap Gemini Nederland 2021-11-30 102.0% 101.2%
Cargill 2021-11-30 103.9% 103.1%
Citigroup Nederland 2021-11-30 124.1% 121.8%
Coram 2021-11-30 103.8%
Cosun 2021-11-30 120.4% 118.5%
CRH 2021-11-30 100.8% 100.4%
Croda 2021-11-30 126.0%
Delta Lloyd 2021-11-30 133.3% 130.4%
Detailhandel 2021-11-30 115.0% 113.9%
Deutsche Bank Nederland 2021-11-30 125.5% 122.7%
DHL Nederland 2021-11-30 131.1% 127.1%
Dierenartsen 2021-11-30 108.9% 106.9%
Dow 2021-11-30 121.3% 120.6%
DSM Nederland 2021-11-30 110.3% 107.5%
Ecolab 2021-11-30 122.5% 119.7%
ERIKS 2021-10-31 109.3% 105.6%
Ernst & Young 2021-09-30 113.3%
Essity 2021-11-30 104.7% 103.2%
Fluor Nederland 2021-11-30 117.0%
Forbo 2021-10-31 111.0% 108.6%
Fracties 2021-10-31 111.7% 107.8%
Fysiotherapeuten 2021-11-30 99.1%
Gasunie 2021-11-30 126.4% 122.6%
Gazelle psf 2021-11-30 120.3% 118.9%
Geveke 2021-11-30 104.8% 104.5%
Grolsche bierbrouwerij 2021-11-30 113.5%
Groothandel 2021-11-30 103.9% 104.0%
Hagee 2021-11-30 122.5% 122.1%
HAL 2020-12-31 162.7%
HaskoningDHV 2021-11-30 108.7% 106.7%
Heineken 2021-11-30 113.3% 108.6%
Hewlett-Packard 2021-10-31 121.5% 117.4%
Honeywell 2021-11-30 129.1% 125.8%
Hoogovens 2021-11-30 120.0% 118.1%
Horecabedrijf 2021-11-30 114.0% 112.0%
Houtverwerkende industrie 2021-11-30 97.4% 97.3%
Huisartsen 2021-09-30 134.9%
Huntsman Rozenburg 2021-11-30 128.0%
IBM Nederland 2021-11-30 144.1% 136.6%
IFF 2021-11-30 118.0% 116.9%
IKEA 2021-11-30 111.8% 110.7%
ING 2021-11-30 137.4%
ING Bank CDC fonds 2021-11-30 108.0% 107.0%
Kappersbedrijf 2021-11-30 97.1% 97.1%
Kas Bank 2021-11-30 124.6% 121.7%
KLM Algemeen 2021-10-31 118.3% 112.5%
KLM Vliegend Personeel 2021-11-30 135.5% 127.2%
KLM-Cabinepersoneel 2021-11-30 114.4% 111.1%
Koopvaardij 2021-11-30 115.8% 114.8%
KPN 2021-11-30 127.9% 124.3%
Kring Progress (Unilever) 2021-10-31 150.0% 140.0%
Lanschot 2021-11-30 113.9% 111.0%
Levensmiddelenbedrijf 2021-10-31 94.3% 92.4%
Lloyd's Register Nederland 2021-11-30 103.8% 102.7%
Loodsen 2021-11-30 111.4% 108.6%
Lucht- en Ruimtevaartlaboratorium 2021-06-30 115.7%
Medewerkers apotheken 2021-11-30 97.1% 95.5%
Media PNO 2021-11-30 105.8% 103.2%
Mediahuis Nederland 2021-11-30 114.6%
Medische Specialisten 2021-11-30 137.5% 134.8%
Mercer 2021-11-30 109.6% 107.6%
Metaal en Techniek 2021-10-31 103.2% 99.3%
Metalektro, bedrijfstakpensioenfonds 2021-11-30 104.5% 102.3%
Metro 2021-11-30 125.3% 123.9%
Meubelindustrie en Meubileringsbedrijven 2021-11-30 115.4% 113.0%
Mn Services 2021-11-30 99.4% 98.4%
Mode-, Interieur-, Tapijt- en Textielindustrie 2021-11-30 100.0% 98.9%
Molenaarspensioenfonds 2021-11-30 111.3%
MSD 2021-09-30 141.3% 136.8%
Nederlandsche Bank 2021-11-30 130.5% 126.5%
Nedlloyd 2021-11-30 127.8% 125.3%
Nielsen AC 2021-11-30 108.3%
NN CDC fonds 2021-11-30 111.0% 111.0%
Notariaat 2021-11-30 111.8% 109.7%
Particuliere beveiliging 2021-11-30 119.3% 116.3%
Pensura 2021-11-30 130.3% 125.2%
PepsiCo Nederland 2021-11-30 116.0% 114.5%
Personeelsdiensten 2021-09-30 110.6%
Personeelspensioenfonds APG 2021-11-30 113.6% 110.4%
PGB 2021-11-30 111.8% 110.3%
Philips 2021-11-30 129.4% 124.6%
Pon 2021-11-30 102.5% 102.7%
PostNL 2021-11-30 123.0% 120.1%
Provisum 2021-11-30 146.0% 141.7%
Rabobankorganisatie 2021-11-30 119.0% 116.4%
Rail & Openbaar Vervoer 2021-11-30 118.6% 115.9%
Recreatie (SPR) 2021-11-30 101.9% 101.2%
Rijn- en Binnenvaart 2021-11-30 124.5% 126.6%
Robeco 2021-11-30 125.1% 124.4%
Rockwool 2021-11-30 105.2% 103.5%
Roeiers in het Rotterdamse havengebied 2021-10-29 107.0%
SABIC 2021-11-30 112.3% 110.7%
Sagittarius 2021-11-30 110.2%
Samenwerking Slagersbedrijf 2021-11-30 112.4%
Schilders-, Afwerkings- en Glaszetbedrijf 2021-11-30 113.5% 111.3%
Schoonmaak- en Glazenwassersbedrijf 2021-11-30 96.3% 95.3%
Shell 2021-11-30 130.6% 125.2%
Smurfit Kappa Nederland 2021-11-30 107.3% 105.8%
SNS Reaal Groep 2021-11-30 113.4% 113.6%
Sportfondsen 2021-11-30 125.8% 125.2%
Staples 2021-11-30 130.6% 127.2%
Tandartsen en Tandarts-specialisten 2021-11-30 122.0% 119.5%
TDV 2021-11-30 125.5% 122.3%
Thales 2021-11-30 127.9% 122.9%
TNO 2021-11-30 116.6% 113.5%
TNT express 2021-11-30 117.6% 116.2%
TOTAL 2021-11-30 114.0% 111.9%
Trespa 2021-11-30 106.1% 105.1%
UWV 2021-11-30 107.6% 105.7%
Verloskundigen 2021-11-30 99.1% 99.7%
Vlakglas, Verf, het Glasbewerkings- en het Glazeniersbedrijf 2021-11-30 99.7% 99.3%
Vlees- en Vleeswarenindustrie en de Gemaksvoedingindustrie 2021-10-31 97.6% 94.8%
Vopak 2021-11-30 124.9% 122.1%
Waterbouw BPF 2021-11-30 117.8% 115.9%
Werk en (re)Integratie 2021-11-30 114.5%
Will Niemeijer 2021-11-30 128.6% 126.0%
Witteveen & Bos 2021-11-30 102.2%
Wolters Kluwer Nederland 2021-11-30 121.5% 119.3%
Wonen 2021-11-30 114.1% 111.8%
Woningcorporaties 2021-11-30 121.6% 117.4%
Xerox 2021-11-30 110.1% 107.9%
YARA Nederland 2021-11-30 126.3% 124.1%
Zoetwarenindustrie 2021-11-30 111.0% 109.5%
Zorg en Welzijn 2021-11-30 101.4% 98.6%
Zorgverzekeraars 2021-11-30 112.7% 111.3%
Zuivel en aanverwante industrie 2021-11-30 109.0% 106.4%

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