Dutch pension funds are being hit hard by the ongoing turmoil on the financial markets, central bank president Nout Wellink told MPs on Thursday.

The average coverage ratio – assets as a percentage of the amount needed to pay pensions – has fallen to 109% when it should be 125%, Wellink said in answer to MPs’ questions.
Some funds had slipped below the critical 105% mark and three have been ordered to come up with a quick solution to their problems, Wellink said.