Quarterly report Q1 2020

Corona crisis also impacts ABP

Heerlen/Amsterdam, April 21, 2020. ABP was confronted with an exceptional situation in the first quarter: the fund was also impacted by the consequences of the global Corona crisis. This crisis had and has a great influence on the financial markets and, consequently, also on ABP's financial position. The fund's current coverage ratio fell from 97.8% at the end of December 2019 to 82.0% at the end of March 2020. The policy coverage ratio (the 12-month moving average) also fell, from 95.8% to 93.0%. The two most important causes of the decline in ABP's coverage ratio were a negative return of 9.8% and a substantial fall in interest rates. There will be no short-term changes for the participants: services will continue to be provided and pensions will be paid on time every month. According to ABP, it is still too early to say what the consequences will be for the pensions in 2021.

21-04-2020

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