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LDI pioneer taps TKP for pension administration

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  • LDI pioneer taps TKP for pension administration

NETHERLANDS - The €430m pension fund of food retailer Super de Boer (SDB) has appointed Aegon subsidiary TKP Pensioen for its pension administration and communication.

TKP, the pension administration firm originally set up by the Dutch posts and telecoms pension funds, said it will take over the pension administration for SDB from January next year.

Pension fund SDB, formerly known as Stichting Laurus Pensioenfonds, has around 5,000 active members, 15,000 deferred members and 1,600 pensioners.

SDB pioneered the use of liability-driven investment (LDI) in its investment strategy in 2005.

Dick Kamp told delegates at an industry conference in Frankfurt last month the fund has now implemented a 60% matching portfolio, matching 70% of the liabilities with swaps and cash, and a 40% return portfolio, with 30% equity and 10% alternatives.

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