NETHERLANDS - The Dutch Knowledge Institute for the bank, insurance and investment industry (NIBE-SVV) has placed its pension contract with life insurer Delta Lloyd.
An "innovative and therefore cost-effective proposition" was the decisive factor for NIBE-SVV to move the contract for over 500 participants, the insurer said in a statement.
A key aspect of the agreed contract is the market valuation in combination with financial derivates. This will keep the interest risk from the scheme's balance sheet, which allows for more investment options, Delta Lloyd explained.
"Subsequently, this freedom of investment for NIBE-SVV may lead to potential returns on investments, which will ultimately benefit the participants," it added.
"Besides the innovative proposition with the added benefits, the surprising approach of the phased transition has been decisive for us to choose Delta Lloyd," Bob Seemann, director of NIBE-SVV commented.
The contract will come retroactively into force as of 1 January 2007.
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