Athora Netherlands’ Zwitserleven has taken over the pension obligations of Stichting Nedlloyd Pensioenfonds. The transaction involves approximately 8,200 participants and invested pension capital of around EUR 950m, making this transaction the largest buyout by Zwitserleven to date.
From 2026, participants in the Zwitserleven pension fund will receive a fixed annual indexation of 3% for the first four years, followed by an annual increase of around 1.3% (the exact percentage will be finalised at a later stage).
Since 2020, Nedlloyd Pensioenfonds has been a closed pension fund with approximately 6,000 pensioners and 2,200 former participants. This means that no more pension contributions have been paid into the fund in the past five years and that pensions are now only managed and paid out. With this takeover, the pension fund will eventually cease to exist. The collective value transfer has been approved by DNB.
“With this transaction, Zwitserleven once again offers an attractive solution for a pension fund and its participants in the complex transition to the new pension system. This allows Nedlloyd participants to enjoy an insured pension with Zwitserleven. I would like to thank the pension fund board for their trust and extend a warm welcome to all these new customers of Zwitserleven,” said Annemieke Visser-Brons, member of the Executive Committee of Athora Netherlands.
“After an extensive process, we have opted for a transfer to Zwitserleven. The board believes that Zwitserleven offers the best solution for both former participants and pensioners. There is security with regard to the pension payments and purchasing power will increase through the partial realisation of the catch-up indexation and a fixed annual indexation. Zwitserleven also had the best proposal for the takeover of all our investments. Finally, the method of communication, service and sustainability all played a role in our decision-making. Transferring the pensions to Zwitserleven gives our participants the security of a good pension with a financially strong insurer,” added Jacco Heemskerk, Chairman of Nedlloyd Pension Fund.
