Quarterly report Q3 2020

ABP: Pension Cuts Likely in 2021

Heerlen/Amsterdam, October 20, 2020. As in the second quarter, ABP’s financial position improved in the third quarter. However, this has not fully compensated for the poor first quarter as a result of the coronavirus pandemic. There was a positive return on investments this quarter. ABP took into account (on a one-off basis) the fact that the participants are not living as long as expected. As a result, the total liabilities decreased slightly in this quarter. Despite the rise in the coverage ratio in the third quarter, ABP’s coverage ratio of 88.2% at the end of September means the Fund is still in the danger zone. At this level, the Fund should cut pensions next year.

Highlights: 

  • Coverage Ratio of 88.2% at End of September 
  • Return Q3: +€12.8 Billion (+2.8%) 
  • Pension Liabilities Down Slightly in Q3 
  • YTD 2020: Return -€1.6 Billion (-0.3%), Liabilities +€49 Billion

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20-10-2020

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