Pension administration company, Achmea, has teamed up with Pensioenfonds PGB and IT provider CGI, to set up a new pensions administration platform following the joint acquisition of IT company, InAdmin RiskCo.

The platform is based on the RiskCo Administration Platform (RAP) of the Utrecht company InAdmin RiskCo. Subject to approval by regulators, Achmea and PGB have agreed to take over this company.

The three parties will invest together in the new platform and then offer it to the entire pension sector. With this they expect to realize economies of scale and cost benefits for participants, pension providers and pension funds. They believe new platform will make it possible to respond more flexibly and quickly to the major changes in Dutch pension system.

InAdmin RiskCo is an administrative service provider with about 130 employees and provides its administration platform to pension providers, (company) pension funds, asset managers, premium pension institutions (PPIs) and insurers. The company has solid roots in the pension world and offers affordable and flexible pension administration to 26 companies for more than 330,000 employees.

Cooperative insurer Achmea (parent company of, among others, Centraal Beheer, Interpolis and Zilveren Kruis) and PGB acquire the shares of all entities of InAdmin RiskCo. The employees, the RAP software, the RAP infrastructure and the agreements with existing customers and suppliers are placed in a newly created company. The intellectual ownership of RAP is resold to CGI.

Commenting, Achmea vice-chair of the executive board, Biance Tetteroo, said: “This takeover is in line with our strategy in the field of old-age provision. Achmea Pension Services will also use the new platform and that fits in with our ambition to be the best digital pension provider in the Netherlands.”

Pensioenfonds PGB chairman of the board, Jochem Dijckmeester, said he believes the inititative will add value for the entire Dutch pension sector.

Share Story: