Holland Casino paid €4.3m during transfer to APF
Written by Tineke de Vries
Holland Casino made a one-off payment of €4.3m to its pension scheme when it transferred to the general pension fund (APF) Stap last year.
It also paid the APF €120,000 to cover the transition costs, the pension fund’s annual report said.
Holland Casino said the one-off voluntary payment was agreed because the fund’s transfer to the APF would save the company money. The amount was agreed after negotiations with the pension trustee board.
The pension fund of Holland Casino has 3,600 active members, assets of €1.5bn and a coverage ratio of 103.2 per cent.
General pension fund Stap, founded by insurer Aegon and its subsidiary TKP, has acquired several new clients in the past year, including the Douwe Egberts pension fund and part of the Transavia pension fund.