Dutch pension funds are being hit hard by the ongoing turmoil on the financial markets, central bank president Nout Wellink told MPs. The average coverage ratio – assets as a percentage of the amount needed to pay pensions – has fallen to 109% when it should be 125%, Wellink said in answer to MPs’ questions. Some funds had slipped below the critical 105% mark and three have been ordered to come up with a quick solution to their problems, Wellink said.
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