Quarterly report 4th quarter 2020 is published

The quarterly report for the fourth quarter of 2020 has been published. You can download the report via our website.

In the fourth quarter of 2020, the current funding rate increased from 109.3% at the end of September to 117.2% at the end of December. This sharp increase of 7.9% point in the last quarter was mainly due to good returns on the equity portfolio and the processing of new life expectancy figures.



The good returns on the investment portfolio were caused by the reports of vaccines against the coronavirus. These messages caused investors to see light at the end of the tunnel. This led to a positive mood on stock markets. But other asset classes also showed good returns.



At the end of November, new figures on life expectancy were included in the funding ratio of Philips Pensioenfonds. This had a positive effect of about 3 percentage points. Average life expectancy is an important fact for pension funds to determine how much pension should be paid out in the future. New life expectancy data are published every two years that pension funds use to calculate their funding ratio.