News

Achmea Pension & Life Insurance completes transfer of Kring ES Nederland pension liabilities

Mon, 19 Oct 2026 10:00:00 +0200

The collective value transfer of the pension liabilities of Kring ES Nederland from Centraal Beheer APF to Achmea Pension & Life Insurance was completed with effect from 1 October 2026. De Nederlandsche Bank (DNB), the supervisory authority, informed the pension fund at the end of September 2026 that it would not exercise its right to prohibit the collective value transfer. This cleared the way for the transfer to proceed.

The transaction means that members will receive full inflation protection (100% HICPxT). In addition, based on the pension fund’s current assessment, members have also been offered the option to purchase a full one-off increase to compensate for indexation increases missed in previous years. Members will receive their first pension payment from Achmea Pension & Life Insurance this week.

Arthur van der Wal, Chairman of the Executive Board of Achmea Pension & Life Insurance, said: “With the completion of the implementation, we have taken an important final step in this pension buy-out. We have carefully prepared and carried out the transition, with the aim of ensuring a smooth process for members. We are pleased that, from now on, we can provide them with certainty and full protection against inflation through Achmea Pension & Life Insurance.”

With the completion of the collective value transfer, the pension liabilities relating to approximately 500 members, together with the associated assets of € 270 million, have been transferred to Achmea Pension & Life Insurance.

ES Nederland provides IT services to organisations, including systems management, cloud solutions and technical platforms. ES Nederland is a subsidiary of the international company DXC Technology, which supports organisations in areas including IT infrastructure management, cloud and data solutions, and digital transformation.

See also the earlier press release dated 25 June 2026: https://news.achmea.nl/achmea-pension--life-insurance-assumes-pension-liabilities-of-kring-es-nl-from-cb-apf/

GE European Pension Fund OFP transfers liabilities of its Dutch section to Achmea

Thu, 24 Sep 2026 08:30:00 +0200

Achmea Pension & Life Insurance will assume the pension liabilities of the Dutch section of GE European Pension Fund OFP through a collective value transfer. This is expected to take place in the first quarter of 2027. The transfer relates to the pension liabilities of approximately 1,200 members and associated assets of more than € 200 million. The transaction is in line with Achmea’s ambition to grow in the pension buy-out market.

The GE European Pension Fund OFP is a Belgian cross-border pension fund (OFP) that houses the former Dutch pension plan of GE Artesia Bank. The fund administers the pensions of the former GE Artesia employees in the Netherlands.
Since GE Artesia ceased its banking activities in the Netherlands, there are no longer any active members. In practice, the Dutch section is therefore a closed, dormant pension scheme, consisting mainly of deferred members and pensioners. The section forms part of the wider GE European Pension Fund OFP, which also operates pension schemes for other GE entities.

On commencement, the pensions will see a one-off increase by a uniform percentage, and are subsequently indexed annually in line with the European price index (HICPxT: the Harmonised Index of Consumer Prices excluding Tobacco). Final clarity regarding the exact level of the one-off increase will only be established once the transfer has formally taken place. The pensions will be fully guaranteed by Achmea Pension & Life.

Arthur van der Wal, Chairman of the Executive Board of Achmea Pension & Life Insurance: “This pension buy-out fits well with our ambition to further strengthen our position in this market. We are grateful to GE European Pension Fund OFP for placing its trust in Achmea. Together with the fund, we are committed to ensuring a careful transfer and a smooth transition for all members.”

Bryan Falato, Chairman of the Board of the OFP: “With the changes to the Dutch pension system, we carefully evaluated all long-term solutions that would best serve the interests of our members, including leaving the Plan unchanged. Our evaluation was focused on the security of current and future pension benefits, the preservation of purchasing power, the quality of service, and the associated costs. Based on the results of this assessment, the OFP decided to transfer the pension liabilities to Achmea Pensioen & Leven. This proposed transfer provides members with greater clarity and certainty regarding their pension benefits, combined with a one-off increase and annual unconditional indexation linked to the European inflation index. Above all, it is important to us that the transition is carried out with due care and that the interests of all members remain well protected over the long term.”

The transition to Achmea Pension & Life requires a careful process to be followed jointly by all parties involved. This includes an assessment by De Nederlandsche Bank (DNB) of the proposed collective value transfer, in this case in cooperation with the Belgian regulator, the Financial Services and Markets Authority (FSMA).

Achmea Pension & Life Insurance assumes pension liabilities of Kring ES Nederland from Centraal Beheer APF

Thu, 25 Jun 2026 17:45:00 +0200

Achmea Pension & Life Insurance has entered into an agreement with Centraal Beheer Algemeen Pensioenfonds for a collective value transfer in connection with the buy-out of the pension liabilities of the Kring ES Nederland and the associated assets. The transaction concerns the pension liabilities of approximately 500 members and related assets of € 270 million. This step is in line with Achmea’s ambition to expand its position in the pension buy-out market.

Kring ES Nederland was transferred to Centraal Beheer APF in November 2021. Within this scheme, pension benefits are accrued for employees of the affiliated employers, Enterprise Services Nederland and DXC Finance (IT services), who joined the companies before 2014.

The affiliated employers have decided to align future pension accrual with their other pension arrangements. As a result, the current scheme will become a less suitable administration structure. In consultations with the social partners, an alternative administration structure has therefore been selected that is better aligned with the future design of the scheme. The intention is to transfer all accrued and pension-in-payment entitlements built up to 1 October 2026 to an insurer through a collective value transfer. Employees will subsequently have the option to make an individual transfer of their pension rights to the provider of the defined contribution (DC) scheme.

Following a thorough assessment of the available options, service quality and costs, Centraal Beheer APF selected Achmea Pension & Life Insurance as the new pension provider. Pension benefits will see a one-time uplift by a percentage of the catch-up indexation and will subsequently be indexed annually in line with the European Harmonised Index of Consumer Prices excluding tobacco (HICPxT). Final certainty regarding both the one-time catch-up indexation and future annual indexation will only be available once the transfer has been completed. Pension benefits provided by Achmea Pension & Life Insurance are guaranteed.

Arthur van der Wal, Chairman of the Executive Board of Achmea Pension & Life Insurance: “I am delighted with this pension buy-out, 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."

Hans Klopper, Managing Director of Enterprise Services Netherlands: “We are pleased that, together with Centraal Beheer APF, we have achieved a sustainable and future-proof pension solution for the members.”

Janwillem Bouma, Chairman of Centraal Beheer APF, said: “As a pension fund, we place the interests of all our members at the heart of our decision-making. Through the buy-out 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 requires a carefully managed process that will be undertaken jointly by all parties involved. Part of this process is the assessment by De Nederlandsche Bank of the proposed collective transfer of pension rights and obligations.

Achmea acquires pension assets of FrieslandCampina via a buy-out

Thu, 22 May 2025 08:30:00 +0200

Achmea Pensioen & Levensverzekeringen N.V. (Achmea Pension & Life) is to expand its existing pension services to FrieslandCampina by means of a buy-out. This step is aligned with Achmea’s previously announced ambition of growing in the pension buy-out market.

The buy-out concerns the so-called segregated investment account, which holds the invested pension assets of approximately 8,000 (former) employees of Friesland Foods and FrieslandCampina. Both parties have agreed to dissolve this account. The assets, which were accrued before 2015 and have until now been managed by FrieslandCampina, will be transferred to Achmea Pensioen & Leven. In total, the transaction involves approximately € 1.5 billion in invested pension assets.

Hans Janssen, Chief Financial Officer of Koninklijke FrieslandCampina N.V.: “FrieslandCampina is pleased to have reached an agreement with Achmea Pensioen & Leven. This step contributes to a solid and reliable future for the participants’ pensions. We are confident that this is in the best interest of their financial security. All participants will be fully informed in the near future about this change and what it means for them.”

Growth ambitions in the buy-out market
Achmea Pension & Life announced a partnership with Sixth Street in November 2024. Apart from new customers and economies of scale, this partnership, which is expected to start in the second half of this year, will provide additional growth opportunities in the market for pension buy-outs. The ambition here is to acquire a market share of approximately 20%. This transaction is an excellent initial step towards achieving this objective.

Daphne de Kluis, member of the Executive Board of Achmea B.V. and responsible for the pension business: “I’m very pleased with this buy-out. The transaction enables us to take over full responsibility for this pension scheme from FrieslandCampina. It’s a good fit with the long-term and close relationship we have built up together. The participants will remain our customers and be able to rely on excellent service and professional asset management, just as they did before. Furthermore, this agreement aligns seamlessly with our ambition to grow in the pension buy-out market.”

Buy-out market on the rise due to new pension system
In a pension buy-out, a pension fund decides to transfer its liabilities and associated risks to another party, such as an insurer. This is an important growth area for Achmea Pension & Life. In the run-up to the introduction of the new pension system in the Netherlands, pension funds are currently considering whether to invest in the transition to the new system or, for example, to opt for a buy-out instead.

Improved capital generation
As announced in November 2024, the goal is to increase Achmea Pension & Life’s capital generation by € 100 million starting from 2028 through the partnership with Sixth Street. This buy-out will contribute to this goal. The initial impact on Achmea Group’s solvency ratio will be about -5 percentage points.