Zwitserleven has taken over the pension rights and entitlements of Stichting Pensioenfonds A.C. Nielsen (Nederland) B.V. with effect from 1 October 2022. A total of about 485 members and invested pension assets of about 55 million euro are involved.
Long-term security for members
By transferring the rights to Zwitserleven, Pensioenfonds A.C. Nielsen creates long-term security for its members. Besides a guarantee on the pensions already accrued, the pension fund has granted all indexations not granted in the past, also known as catch-up indexations, to members in one lump sum as of 1 October 2022. In addition, all members will receive an annual lifetime fixed indexation from 2023.
Pensioenfonds A.C. Nielsen has been a closed pension fund since 2015. This means that no more pension contributions are paid into the pension fund and pensions are only managed and paid out. So with this takeover, the pension fund will eventually cease to exist. The transfer is still subject to approval by the DNB.
Safe and sustainable pension
Lennaert van Anken, Head of Buy-Out & Corporate Development at Zwitserleven, is very pleased that, after a very intensive process supervised by Willis Towers Watson, Pensioenfonds A.C. Nielsen has opted for Zwitserleven: "With the transfer, Pensioenfonds A.C. Nielsen offers its members a lifelong guarantee on the accrued pensions plus catch-up indexation, including an annual fixed indexation. This allows all the fund's members to enjoy the Zwitserleven Feeling immediately or over time. By entering into a buy-out contract with Zwitserleven, Pensioenfonds A.C. Nielsen is opting for a secure and sustainable pension for all its members. Our buy-out offers the pension solution that meets the pension fund's specific needs, complemented by personalised support."
Best solution for participants
Peter Dorrestijn, chairman of Pensioenfonds A.C. Nielsen, explains why the choice fell on Zwitserleven as pension provider: "After a careful selection, the board chose to transfer to Zwitserleven as insurer. The board believes Zwitserleven offers the best solution for all former members and pensioners. Not only the possibilities for granting indexation were considered, but also criteria such as communication, service and sustainability. Placing pensions with Zwitserleven gives our members the most certainty of a good pension."
Growing in pensions
Pension Fund A.C. Nielsen's decision, like that of Pension Fund Atradius in 2021, proves that Zwitserleven's buy-out option offers a very good, appropriate solution for pension funds. Angelo Sacca, Chief Transformation Officer of Athora Netherlands, says: "Athora Netherlands has focused entirely on pensions for growth. This transaction demonstrates our strength to provide the best solutions for pension funds facing complex challenges in their pension scheme and its implementation. Athora Netherlands' success is based on our ability to deliver the highest benefits in a sustainable way and a strong track record of service."
This article is published on 04 October 2022