The €475m Dutch pension fund for the digital sector (TrueBlue) is to position its pensions accrual with PNO Media, the a lot bigger scheme for the artistic business.
It mentioned the €6.7bn PNO Media scheme would take over each TrueBlue’s outlined profit and outlined contribution preparations as of 1 April 2020.
TrueBlue added that at PNO Media, the id of the ICT sector can be assured, and that PNO would be capable of implement each pension preparations nearly unchanged and in opposition to decrease prices.
Rob de Ridder, TrueBlue’s chair, mentioned his scheme had been dealing with rising prices, partly due to inadequate progress on the variety of individuals.
“PNO Media provided certainty and continuity,” he mentioned.
Nelly Altenburg, chair of PNO Media, famous that a part of TrueBlue’s individuals may benefit from PNO’s new proposition of DC life cycle preparations, a hybrid pension plan.
The ICT scheme provides 2,700 employees, 5,100 deferred individuals in addition to 600 pensioners affiliated with 99 employers.
Presently, PNO Media has 17,000 energetic individuals, 31,000 deferred members and 10,000 pensioners affiliated with 400 firms.
The protection ratio of each schemes stood at 97.1% and 98.9%, respectively, on the finish of October.
NN IP enters partnership with Venn on residential mortgages
The €287bn Dutch institutional investor Nationale Nederlanden Funding Companions has taken a majority stake in mortgage investor Venn Hypotheken.
It mentioned the acquisition would broaden its proposition for institutional gamers that need to spend money on Dutch residential mortages.
The bulk stake within the UK and Spain-based firm enabled NN IP to provide you with mortgage merchandise for purchasers that desire an funding mandate reasonably to an funding fund, it argued.
Since 2015, NN IP provided investments in its Dutch Residental Mortgage Fund, which has attracted €2.7bn of institutional property to this point.
Venn Hypotheken has been established by property financier Venn, who has invested €1bn in residential mortgages issued by Venn Hypotheken.
NN IP mentioned Venn Hypotheken would carry on issuing loans to Venn’s Cartesian securitisation programme.
