Achmea Pension & Life Insurance has agreed to assume pension liabilities covering around 500 members from Centraal Beheer Algemeen Pensioenfonds (APF) as part of a pension buyout.
The transaction relates to the pension liabilities and €270m in associated assets of Kring ES Nederland, which was transferred to Centraal Beheer APF in 2021. The scheme covers employees of Enterprise Services Nederland and DXC Finance who joined the companies before 2014.
The affiliated employers decided to align future pension accrual with their other pension arrangements, making the current scheme less suitable.
Following consultations with the social partners, the accrued pension rights and pensions in payment built up until 1 October 2026 are expected to be transferred collectively to Achmea Pension & Life Insurance, subject to regulatory approval.
Employees will then have the option of transferring their accrued pension rights individually to the provider of the defined contribution (DC) scheme.
Achmea Pension & Life was selected by Centraal Beheer APF following an assessment of the available options, service quality and costs.
As a result of the transaction, pension benefits will see a one-time uplift by a percentage of the catch-up indexation and will then be indexed annually in line with the European Harmonised Index of Consumer Prices excluding tobacco (HICPxT).
However, these figures will only be finalised once the transfer has been completed. Pension benefits provided by Achmea Pension & Life Insurance are guaranteed.
Commenting, Achmea Pension & Life Insurance chairman of the executive board, Arthur van der Wal, said: “I am delighted with this pension buyout, which fits perfectly with our ambition to grow our presence in this market.
“We thank Centraal Beheer APF for the confidence they have placed in us. We warmly welcome the members of the Kring ES Nederland and will ensure a smooth and carefully managed transition."
In addition, Enterprise Services managing director, Hans Klopper, said he was “pleased” to have achieved a “sustainable and future-proof pension solution for the members”.
Centraal Beheer APF chairman, Janwillem Bouma, added: “As a pension fund, we place the interests of all our members at the heart of our decision-making. Through the buyout with Achmea Pension & Life Insurance, we have found a sustainable and future-proof alternative for the members of the Kring ES Nederland.”
The transfer to Achmea Pension & Life Insurance will be subject to a carefully managed process undertaken jointly by all parties involved. It will also be subject to review by De Nederlandsche Bank, which must assess and approve the proposed collective transfer of pension rights and obligations.
