Corona and the pension fund

13 March 2020 | News

In the blog we would like to inform you about the consequences of the developments on the stock exchanges for the financial situation of the pension fund and also about the accessibility of the pension fund in these days.

Decrease of funding ratio due to corona

Stock prices have fallen rapidly in recent days due to fears of a global economic crisis. This fear is caused by the consequences of the coronavirus. This fear has also caused interest rates to fall further. This is because investors seek security in the relatively safe government bonds. The increased demand for government bonds has caused interest rates to fall.


What exactly causes the decrease in the funding ratio?

The interest and the value of the investments influence the policy funding ratio. The funding ratio represents the ratio between the value of the investments of the pension fund on the one hand and the value of the pension obligations on the other.

Due to the recent sharp fall in the stock markets, the assets of the pension fund have fallen. Interest also fell, causing the value of the pension liabilities to rise. With a lower interest rate, you will simply have to reserve more capital to be able to meet the pension obligations in the future.


Will my pension be decreased?

The policy funding ratio as at 31 December is decisive for the reduction of pensions. The policy funding ratio is the average of the current funding ratios over the past 12 months. This means that one or more bad investment months could be straightened out in the other months. There is currently no reason to decrease the pensions. Whether this will be different on 31 December 2020 will have to be considered at that time.


Accessibility of the pension fund

The administrating body has taken measures to ensure the continuity of business operations, and thus the execution of the pension scheme. As a result, the most important parts of the execution can continue to proceed, even if continuity in the staffing of the administrating is jeopardized.

We respond to the government’s call and work from home as much as possible. That is why we are not available by phone and meetings can’t take place. However, you can reach us by e-mail. Our email address is


The Heineken Pension Fund

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