Capital growth PME continues
PME shows positive capital growth over Q1 2024. Capital increased from €54.6 billion to €56.1 billion. PME's funding ratio rose slightly from 109.4% at the end of December to 111.7% at the end of Q1 2024. This is the result of a combination of a stable 2.3% interest rate – equalling the 2023 year-end level – and a positive return.
Key figures Q1 2024
- Current funding ratio as at 31 March 2024: 111.7%
- Policy funding ratio as at 31 March 2024: 113.3%
- Investment return Q1 2024: 2.47%
- Capital in Q1 2024 increased to approx. €56.1 billion
- Pension commitments in Q1 2024 increased to approx. €50.2 billion
Eric Uijen, chairman of the executive board: “Over the next few years, the sector will be focusing on implementation of the new pension system. At PME, we are busy preparing for our transition in early 2026. We need to do this in an orderly, meticulous and balanced manner for all of our participants and pensioners. It is also crucial to be and stay closely connected to our participants. PME is committed to personal contacts with our participants. The agendas of our employee and employer consultants are packed.
After the Covid years, we have started holding pensioner meetings again. These are a great way to reach our rank and file, with inspiring lectures and 1-on-1 conversations with our participants. As the number of attendees and the pleasant atmosphere show, this easy-access way of communicating is highly appreciated. This is just one of the many ways in which we inform our participants, listen to their needs and discuss the new system."
Capital shows upward movement
PME's overall capital is increasing. It increased by five billion euros in 2023, a trend that is continuing in the first quarter of 2024. In Q1, PME's capital grew from €54.6 billion to €56.1 billion. This capital increase was largely due to a positive return of 8.6% on the share portfolio.
PME's commitments compared to 2023 rose from €49.9 billion to €50.2 billion. The funding ratio as at the end of March 2024 is 111.7%.
Key figures Q1 2024
