NETHERLANDS - Construction sector organisation Bouwend Nederland has awarded a pension administration contract to ING Group’s Nationale Nederlanden.
Insurer Nationale Nederlanden said it would take on the five-year contract on January 1 2006. Bouwend Nederland has around 100 employees and was advised by Hewitt in Rotterdam.
The win represents good news for NN, which was sacked by the €800m pension fund for public pharmacists last year. Anton van Zijl, director of the Stichting Pensioenfonds Apothekers told IPE at the time that the quality of NN’s services had been “abominable”.
Bouwend was set up in 2004 following a merger between AVBB, BouwNed, VIANED, Bolegbo-vok, vocBetonbouw and WRI.
Its main tasks are to support the overall sector and give additional consultancy and advice to the building and infrastructural sectors.