Heerlen/Amsterdam, April 21, 2022. In the first quarter of 2022, ABP’s latest coverage ratio will rise by 6.8% to 117.4%. This is a big plus point in a challenging and uncertain quarter. The increase is entirely due to the rise in interest rates, which means that the fund needs much less capital (-€47 billion) to pay out all current and future pensions. This more than mitigates the loss on investments (-€21 billion). As the latest coverage ratio increases, the policy coverage ratio also rises: to 106.5%. However, under the current rules, that is not yet enough for us to increase pensions.