NETHERLANDS - Loyalis will implement ABP’s ‘levensloop’, or life course scheme, the €170bn Dutch pension fund said.
The scheme will enable employees to save for long leave in a tax-friendly way as of January 1. They can take the leave during, or at the end, of their careers. Loyalis will approach ABP’s members with an offer this autumn.
“This way we can make the employees an optimal offer, and take away the administrative burden from the employers”, said ABP chairman John Neerven.
“Employees are able to make a deliberate choice for early retirement, or for interim leave via the levensloop. A greater freedom of choice and a sustainable pensions system will go together this way.”
The move follows an announcement by health care scheme PGGM that it would be offering individual savings and investment products. Pensions administrator Cordares is also entering the arena.
Loyalis sells additional pension insurance products for civil servants and teachers. ABP owns 20% of the company, the remaining 80% is owned by employers and employees in the civil service.