Financial developments PDN in 2023
Published: 26-03-2024
Following the year-end closing, the year-end figures (or the fourth quarter of 2023) have been adjusted. The main points are as follows:
- The funding level fell in Q4 from 133.1% to 120.2%. PDN increased pensions at the end of 2023. As a result, the coverage ratio fell by approximately 7 percentage points.
- The policy funding level (the average of the last twelve funding levels) fell in Q4 from 128.7% to 127.9%.
- The pension liabilities raised in the fourth quarter from €5,189 to €6,117 million. By increasing pensions at the end of 2023, pension liabilities increased by approximately EUR 329 million. The remaining increase in pension liabilities can be explained by the fall in interest rates.
- The pension assets raised in the fourth quarter from €6,905 to €7,350 million. The return on the assets in the fourth quarter was 7.1%.
Click here for more information about the financial developments in the fourth quarter.