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.
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