UK/NETHERLANDS - Stichting Pensioenfonds UWV has appointed ABN AMRO Mellon Global Securities as global custodian to assets worth e2.2bn.
ABN AMRO will provide investment custody services, including accounting, performance measurement and full administrative and regulatory reporting for the pension fund assets.
Nadine Chakar, CEO of ABN AMRO Mellon said: “Stichting Pensioenfonds UWV is a newly consolidated pension fund, which therefore required a specialist in the Dutch market to work within a tight timeframe to provide a flexible, high-standard service.”
Stichting Pensioenfonds UWV is the pension fund of Uitvoering Werknemersverzekeringen (UWV), the prominent Workers Insurance Authority based in The Netherlands.
The UWV pension fund was created on July 1st, 2003 as a result of a merger between the pension funds of UWV, GAK Nederland and CADANS.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.