Pensioenfonds ING funding ratio climbs to 94.8% over July

Pensioenfonds ING, the pension fund for employees of Dutch multinational banking group ING, has seen its average real funding ratio climb to 94.8 per cent at the end of July.

This is an increase of 0.3 percentage points on June, when it stood at 94.5 per cent. Since the end of December 2020, it has increased by 1.5 percentage points, up from 93.3 per cent.

The DNB policy funding ratio stood at 132.4 per cent at the end of July, which was a 1.2 percentage point increase from the end of June when it stood at 131.2 per cent. Since the beginning of the year, it has climbed up from 126.2 per cent.

The fund said that in July, interest rates fell quite sharply. However, due to the high hedging of interest rate risk by the fund and the further growth of the equity and real estate portfolios, DNB's policy funding ratio has risen further.

However, expected inflation increases are “unfavourable” for the current real funding ratio.
Despite this, the average real funding ratio increased, due to the positive developments in the past 12 months.

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