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Netherlands : Dutch pension funds' policy funding ratio at 99.7% at 31 March 2017.

At the end of the first quarter of 2017, the policy funding ratio of the Dutch pensions sector stood at 99.7%. The ratio, on which pension funds must base their policy decisions, rose 2.2 percentage points in the quarter.

It is calculated as the average of the funding ratios based on daily market information for the past twelve months. Over the first quarter of 2017, the funding ratio based on daily market information the ratio of pension funds' assets to pension liabilities went up 2.8 percentage points to 104.9%.

Pension liabilities decreased by EUR 17 billion to EUR 1,229 billion. The available assets increased by a similar amount to EUR 1,289 billion. The change in the pension liabilities is due mainly to a change in the interest rate term structure used to calculate the liabilities, which increased in the first quarter and this has a downward effect on the liabilities. The value of the available assets of pension funds went up in particular because of favourable developments in the stock market, as the AEX index, the MSCI world index and the Dow Jones index increased 6.9%, 4.9% and 4.6%, respectively. Interest and currency developments this quarter had a negative impact on the available assets.

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Publication:Mena Report
Date:Apr 27, 2017
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