Finances
The funding ratio is an important measure of the financial situation of the pension fund. The funding ratio indicates the extent to which the pension assets at a given time are sufficient to meet all future pension obligations (in particular the pension payments). In addition to the funding ratio, a pension fund must also calculate a so-called 'policy funding ratio'. This policy funding ratio is the average of the last twelve monthly funding ratios. Based on the level of the policy funding ratio, it is determined whether a pension fund must reduce the accrued pensions and pensions in payment.
Funding ratio
+13.6% growth
The funding ratio is a measure of the financial position of Pensioenfonds PDN, expressed as a percentage. This percentage represents the ratio between the fund's assets and all financial obligations, now and in the future. The higher the funding ratio, the more certain it is that Pensioenfonds PDN will be able to pay out the promised pensions.
Policy funding ratio
+5.4% growth
The policy funding ratio is the average funding ratio over the past 12 months.
Download funding ratio calculation pdf
Download funding ratio calculation pdfAt the end of 2025, the funding ratio was 135,9%, which is 13,6% higher than the funding ratio at the beginning of the year (122,3%). In addition to the funding ratio, a pension fund must also calculate a so-called 'policy funding ratio'. This policy funding ratio is the average of the last twelve monthly funding ratios. At the end of 2025, the policy funding ratio was 130,3%, which is 5,4% higher than at the beginning of the year (124,9%).
Based on the level of this policy funding ratio, it is determined whether a pension fund is in a deficit situation and must submit a recovery plan to de Nederlandsche Bank. In a recovery plan, a fund indicates how it intends to achieve a higher funding ratio in the coming years. The policy funding ratio determines whether or not pensions are increased (indexation).
Based on the financial situation of the fund as of the end of October 2025 and the expanded statutory pension increase options for funds planning to transition, the board assessed in 2025 whether to grant pension increases as of December 31, 2025. The fund decided that all (former) participants and pensioners would receive a pension increase of 3.01% (equal to the full measure for price inflation). This concerns an additional pension increase of 0.68% compared to what would have been granted if the regular pension increase policy of Pensioenfonds PDN had been applied.
Pensioenfonds PDN tries to let the pension of pensioners and former participants grow each year with the increase in prices, and to let the pension of active participants increase with the increase in wages. This is the ambition of Pensioenfonds PDN and this is called granting a pension increase or indexation. This is only possible if the financial situation of the pension fund is good enough.\n\nMore information about granting pension increases can be found on the website of Pensioenfonds PDN.
Due to the full granting of pension increases, there are no missed pension increases for 2025. The missed pension increases (from previous years) are tracked in accordance with the catch-up pension increase policy of Pensioenfonds PDN, so they can potentially be caught up if the financial position of the fund allows it.
More information about granting pension increases can be found on the website of Pensioenfonds PDN.
Indexation for pensioners and deferred participants
Pension Fund PDN aims to increase pensions every year and to let them grow in line with price increases. This is called indexation or granting of supplements.
Indexation for active participants
Pension Fund PDN aims to increase pensions every year and to let them grow in line with price increases. This is called indexation or granting of supplements.