In the past month, the current funding ratio has fallen from 116.8% (end of April) to 113.2% (end of May). This is mainly due to the fall in interest rates. This increased the value of the portfolio with fixed-income securities. However, due to falling interest rates, the pension liabilities rose even more strongly and had a negative effect on the current funding ratio. The decrease in the value of the investments in shares also contributed to the decrease in the current funding ratio.
The decrease of 3.6 percentage points is visible to a limited extent in the level of the policy funding ratio. This is because the policy coverage ratio shows the average of the current funding ratio over the past 12 months. The policy funding ratio fell last month from 118.4% (end of April) to 117.8% (end of May).
Go to chart funding ratio