In the month of July, the coverage ratio of the Caribbean Netherlands Pension Fund (PCN) has shown further strengthening. By the end of July, the coverage ratio stood at over 126%.
For the past few months, the pension fund has been benefiting from the globally increasing interest rates. Additionally, the fund also achieved a modest profit on its investments last month.
Meanwhile, the PCN board has decided to index the pensions of participants by 3% as of September 1, 2023. This indexation will have an impact on the coverage ratio that was achieved last month.
At the end of the year, the board will decide whether another indexation will be applied as of January 1, 2024.