The Netherlands’ biggest pension funds have managed to boost their assets over the past few months but are still not at levels to allow an increase in pay-outs next year, news agency ANP reports.
Three big funds, the health service and two engineering sector funds, presented their third-quarter results on Thursday.
Best performer is the PGGM health service fund which has increased its coverage ratio from 89% at the end of March to 107% now. This means it has €1.07 to fund every €1 of pension payments.
The Dutch central bank wants funds to maintain a coverage ratio of 105%, but the economic crisis and collapse in share prices forced most funds well below this level.
The engineering funds boosted their coverage ratio to 97% and 101%, ANP said.
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