NETHERLANDS/AUSTRIA - The €2.5bn Austrian pension fund APK-Pensionskasse and Dutch insurer Aegon have signed a letter of intent that will allow both organisations to further expand internationally.

Through the new partnership, APK will have access to the international presence of Aegon Global Pensions (AGP), the European group pension arm of Aegon, which recently rebranded itself earlier this year to provides cross-border pension solutions for multinational companies.

In return, AGP will be able to offer employee benefit products and services to multinational clients with businesses in Austria.

AGP said in a statement has not yet have any presence in Austria, despite previously building up its businesses in Germany and across central and Eastern European countries.

“Austrian companies have invested heavily in Central & Eastern Europe and this latest partnership with APK-Pensionskasse could help AGP further strengthen its ties with multinational companies in the region,” said AGP.