De Nederlandsche Bank published quarterly figures showing that Dutch pension funds’ funding ratios improved in the second quarter of 2025, driven by higher asset values and a fall in liabilities. Total investments increased by EUR 10 billion to EUR 1,604 billion, while aggregate liabilities declined by EUR 22 billion to EUR 1,309 billion, with the liability reduction attributed to a further rise in interest rates. The sector’s average funding ratio rose 2.9 percentage points from the previous quarter to 122.5%, compared with 119.3% a year earlier. The policy funding ratio, defined as the average of the past 12 months’ funding ratios, edged up 0.2 percentage points to 118.0%. The statistics exclude converted pension funds, and prior quarters were not adjusted.
De Nederlandsche Bank 2025-07-29
De Nederlandsche Bank reports Dutch pension funds’ average funding ratio rose to 122.5% in Q2 2025
De Nederlandsche Bank reported that Dutch pension funds' funding ratios improved in Q2 2025 due to higher asset values and reduced liabilities. Total investments rose by EUR 10 billion to EUR 1,604 billion, while liabilities fell by EUR 22 billion to EUR 1,309 billion, driven by rising interest rates. The average funding ratio increased to 122.5%, with the policy funding ratio slightly up to 118.0%.