THE NETHERLANDS - Aegon has partnered up with A&O Fondsmanagement to supply its administration for small to medium pension's schemes.
A&O Fondsmanagement, is a specialist in providing administration for pension funds in the building and construction industry.
A spokesperson for Aegon in the Netherlands said the partnership was to provide specialised administration and she assured Global Pensions “pension fund clients would not recognise a difference”.
Its manager of customer relations Peter Van Der Steur said the partnership would to allow Aegon to “expand to pension funds in other markets”.
Aegon has previously used a specialist company, TKP to carry out the administration for large pension funds for the past three years, but now owns the company.
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UK defined benefit (DB) schemes have increasingly undertaken benefit reviews over the last four years resulting in an acceleration of scheme closures, Aon research finds.
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