SPF Beheer, the independent administration organisation of the NLG21bn Spoorwegpensioenfonds, the pension fund of the Dutch railways, has announced it will begin administrating the pension fund and asset management of the country’s public transport pension scheme - the NLG3bn (e1.4bn) Stichting Pensioenfonds Openbaar Vervoer (SPOV) in January 2000.
The combined operation will now process pensions for around 94,000 participants, former participants and pensioners.
The appointment of SPF Beheer by SPOV means the public transport fund ends an extended period where the scheme’s liabilities were reinsured.
SPF Beheer says the tie up fits perfectly with the group’s growth strategy and believes it is in the interests of employees working in an integrated transport region to have the two funds administered by the same company.
Ine Thiujs at SPF Beheer says that the group is currently considering how it will manage the assets for SPOV and expects investment policy to be in place by Jan 1 next year.
" The management of SPOV is the first new group we will administer and manage so we are focusing on this for the present. We will be looking at future relationships when the current tie up is running."