Several Dutch pension funds have published July funding updates for their schemes, with improved results reported across both current funding and policy coverage ratios.

Hoogovens Pension Fund reported that its current funding ratio rose from 136.6 per cent in June to 140.4 per cent in July, up from 137.1 per cent at the start of 2026.

In 2026 so far, the actuarial interest rate has had a negative effect of 0.1 percentage points on the development of Hoogovens Pension Fund's current funding ratio.

The fund’s update also reported that the value of its invested assets rose from €10,459m in June to €10,833m in July, which increased the current funding ratio by 7.3 percentage points.

Additionally, the fund granted a pension increase on 1 July 2026, and this had a negative impact of 5.1 percentage points on the current funding ratio.

The fund’s policy coverage ratio, the average funding ratio over the past 12 months, also improved, rising from 135 per cent in June to 136 per cent in July.

The policy coverage ratio was therefore 8.7 percentage points below the threshold for future sustainable indexation.

SNS Reaal also reported improvements in its policy funding ratio, which rose from 134.4 per cent in June to 135.4 per cent in July.

In July, the fund's investment value decreased, with the portfolio falling by 2.8 per cent.

However, due to a 0.27 percentage point rise in the average De Nederlandsche Bank (DNB) interest rate in July, SNS Reaal's liabilities decreased.

Overall, this development saw the current funding ratio increase by 2 percentage points from 139.3 per cent to 141.3 per cent.

Continuing the trend of improved funding levels, Pensioenfonds UWV reported that its policy funding ratio increased from 124.9 per cent in June to 125.4 per cent in July.

Meanwhile, its current funding ratio also saw an improvement, rising from 126.8 per cent in June to 129.1 per cent in July.

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