Pension fund Atradius places its pensions with Zwitserleven

With effect from 1 November 2021, Zwitserleven will take over the pension entitlements and rights from Stichting Pensioenfonds Atradius Nederland. The takeover involves over 1400 members and invested pension capital amounting to approximately EUR 450 million.

Long-term security for participants

The accrued pension entitlements and rights of over 1400 members of Pension Fund Atradius, including current and former employees, will be insured by Zwitserleven with effect from 1 November 2021. By transferring the rights to Zwitserleven, Pension Fund Atradius is creating long-term security for its members. Aside from guaranteed rights to the accrued pensions of the members, the Pension Fund has also bought guaranteed annual inflation protection. The amount of inflation protection is between 50% and 75% and will be finalised after the implementation process is fully completed. After the Dutch Central Bank has approved the transfer, Pension Fund Atradius will cease to exist in the fullness of time.

Lennaert van Anken, Head of Buy-Out & Corporate Development at Zwitserleven, says "We are extremely proud that Pension Fund Atradius has chosen Zwitserleven after a careful selection process. Thanks to the transfer, Pension Fund Atradius is offering its members a lifelong guarantee to their accrued pensions, including attractive annual indexation rates, which means that all the Fund’s members can enjoy the Zwitserleven Feeling in due time or with immediate effect. With Zwitserleven's pension buyout proposition, Pension Fund Atradius has chosen a pension solution that meets its specific needs, with personal supervision and a secure and sustainable pension for all of its members and pensioners."

Fiona Beijdorff, Chairman Pensioenfonds Atradius: “The strong financial position of the pension fund and an additional contribution from the employer have ensured that the pension obligations are transferred under favourable conditions, whereby the conditional pension entitlements have been converted into more guaranteed pension entitlements with annual indexation. After a strict and intensive selection process, Zwitserleven emerged as the best insurer. We are happy with the result and are convinced that our participants can now also enjoy the Zwitserleven Feeling”.

Active player in the buy-out market    

Pension Fund Atradius 's decision is in keeping with the market trend. Angelo Sacca, Chief Commercial Officer at Athora Netherlands, says "More and more pension funds are considering transferring some or all of their liabilities to an insurer before the new pension system takes effect. Transferring the pension liabilities is the best possible solution to guarantee the members' benefits. The takeover announced today is part of our growth strategy of focusing on pension products for the Dutch retirement market and pension buyouts. Through our committed and experienced buy-out team, we are keen to help pension funds deal with their challenges by providing total solutions for their pension schemes.”

Want to know more about the possibilities for a pension buy-out? Read more at: Pension buy-out. (zwitserleven.nl)