Delta Lloyd Pensioenfonds transfers pension liabilities to Zwitserleven
Athora Netherlands has taken over the pension liabilities of Delta Lloyd Pensioenfonds through a collective value transfer to Zwitserleven. The transfer has already been approved by DNB.
The transfer to Zwitserleven involves EUR 3.1 billion of assets under management, and the pensions of approximately 12.000 participants of which 4.500 pensioners. Participants will receive their pension from Zwitserleven with each year a guaranteed indexation equal to European inflation (100% HICPxT) to maintain the purchasing power of their pension. In addition, participants will also receive an additional one-off indexation of 7.0% at the moment of the transfer to Zwitserleven.
Attractive pension risk transfer solution
Jan de Pooter, CEO Athora Netherlands: 'This collective value transfer covering EUR 3.1 bn of pension liabilities is the largest of its kind in the Netherlands so far and offers a highly attractive financial outcome for the participants. We are proud to have been selected by pension fund Delta Lloyd and thank the board for their trust in Zwitserleven. Of course, we extend a warm welcome to all these new customers.'
Best solution
Henk Raué, chairman of Delta Lloyd Pensioenfonds: 'This transfer is a great result for the participants. The mission of the pension fund has always been to preserve the purchasing power of our participants’ pensions as effectively as possible, both now and in the future. We are able to achieve that objective through this transfer of our pensions to Zwitserleven. This is therefore a wonderful way to bid farewell to our trusted pension fund and to place our participants’ pensions in good hands for the future. The cooperation with Zwitserleven has been pleasant and highly efficient throughout the process, so we are very satisfied with the collective value transfer from every perspective.'
Pension Risk Transfer
An increasing number of pension funds are choosing to transfer their pension liabilities to Zwitserleven. As a specialised pension insurer, Zwitserleven has the expertise to help pension funds with pension risk transfer solutions to secure Defined Benefit pensions of participants, in combination with attractive and guaranteed indexation levels to maintain purchasing power. In the past two years, Zwitserleven reached agreement with ten pension funds covering the transfer of approximately EUR 8 billion in pension liabilities which have all been approved by the regulator.
