ABP takes on military pensions
Dutch superfund ABP is set to take on board the pensions for 60,000 military personnel, starting in June.
The Heerlen-based pension giant is to receive NLG13bn (EUR5.8bn) in assets from the move, adding to its near EUR150bn fund.
Previously, the Dutch Ministry of Defence administered the pensions for the Dutch navy, army and airforce personnel. According to a spokesman for ABP, the transfer of assets from the ministry will take place over a period of 10 years at a rate of about EUR0.6bn per year.
The additional funds are not expected to have an effect on current investment arrangements.
By Madhu Kalia
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