Heerlen/Amsterdam, January 2, 2023. ABP’s financial position in 2022 appears to be stable, as the current coverage ratio at the beginning and end of 2022 was almost the same, at almost 111%. That said, the year was marked by change. The current coverage ratio rose sharply in the intervening quarters but, in the last quarter, fell to its level at the end of last year. This was due to the pension increase being factored in. Alongside that, the war in Ukraine caused financial markets to underperform. Consequently, ABP’s investment return was negative over 2022: -17.6%. ABP’s assets shrank from €552 billion at the end of 2021 to €459 billion at the end of 2022. Interest rates also rose during the year, which had the positive effect of reducing the value of the liabilities (all pension payments now and in the future) for the fund. The policy coverage ratio increased by 15.8% (from 102.8% as at end 2021 to 118.6% as at end 2022).

Highlights

• Current coverage ratio 110.9% (110.6% as at end 2021)
• Two resolutions to increase pensions: 2.39% in July and 11.96% in December
• Investment return -17.6% (+11.1% in 2021)
• Policy coverage ratio increases to 118.6% (102.8% as at end 2021)

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