The coverage ratio shows you what our financial position is.
The coverage ratio is the relationship between PGB’s capital (assets) and the pensions we have to pay out. If the coverage ratio is 100%, then there is precisely enough money to pay all the pensions. However, the government has prescribed that pension funds must have a buffer. A high coverage ratio is, therefore, important.
There are two coverage ratios:
This is the average UFR coverage ratio over the last 12 months. Each year, on the basis of this coverage ratio, the board decides whether or not the pensions can be increased.
| Month | Policy coverage ratio |
| February 2026 | 126.0% |
| January 2026 | 125.0% |
| December 2025 | 123.9% |
| November 2025 | 122.6% |
| October 2025 | 121.4% |
| September 2025 | 120.3% |
| August 2025 | 119.4% |
| July 2025 | 118.6% |
| June 2025 | 117.8% |
| May 2025 | 117.3% |
| April 2025 | 115.1% |
| March 2025 | 117.1% |
The coverage ratio is the relationship between PGB’s capital (assets) and the pensions we have to pay out. If the coverage ratio is 100%, then there is precisely enough money to pay all the pensions. However, the government has prescribed that pension funds must have a buffer. A high coverage ratio is, therefore, important.
| Month | UFR coverage ratio |
| February 2026 | 130.7% |
| January 2026 | 131.8% |
| December 2025 | 131.5% |
| November 2025 | 130.5% |
| October 2025 | 129.0% |
| September 2025 | 128.7% |
| August 2025 | 126.8% |
| July 2025 | 125.7% |
| June 2025 | 123.7% |
| May 2025 | 120.1% |
| April 2025 | 115.1% |
| March 2025 | 118.0% |
| February 2025 | 118.7% |
We expect to do this on January 1, 2027. What will the role be of the coverage ratio during and after the transition?