Dutch scheme of Cindu International to transfer to Centraal Beheer APF
Written by Tineke de Vries
Stichting Pensioenfonds Cindu International has signed an intention agreement with Centraal Beheer APF to transfer its liabilities and assets to the general pension fund (APF).
The intention is to transfer the accumulated pension savings of the Dutch pension fund and the future pension savings of employer Rütgers Resins to a pension fund circle of Centraal Beheer APF. This circle is open for other pension funds to join so that they can benefit from the economies of scale.
Before signing the intention agreement with Centraal Beheer APF, the pension fund carried out a broad orientation on its future, in which the fund and the employer worked together to explore all available options. Mid 2017 the transfer to an APF turned out to be the best option.
Rita van Ewijk of Stichting Pensioenfonds Cindu International says: “After an intense selection process, Centraal Beheer APF came out on top for our scheme. Both the people at Centraal Beheer APF as well as the third parties which handle the administration and asset management, have consistently and proactively thought along with us to, for instance, find the right balance between bespoke and standard, so that both the transition costs and the annual costs can be
controlled. Additionally, the space we experienced to design our circle together with Centraal Beheer APF, which will provide a sustainable solution for our fund as well as for other funds in the future, gave us a lot of confidence.”