Stichting Pensioenfonds DSM Nederland (PDN) acquires the pension administration organization DSM Pension Services B.V. (DPS). dsm-firmenich and PDN have reached an agreement whereby dsm-firmenich will transfer all shares in the administration organization to PDN. The step means that the management and administration of pension policies will be brought together under PDN.
The parties signed a share transfer agreement yesterday. The PDN Board chose to incorporate DPS into its own pension fund, as this will enhance the strength of the organization and provide the best opportunities for further improving its high-quality services. The transaction is the outcome of a reorientation by dsm-firmenich, as part of which the decision was made to transfer DSM Pension Services.
PDN’s priority is to ensure a robust and future-proof pension for all of its members, and the fund is satisfied with the high-quality service provided by DPS. Members will benefit from having pension management and administration in one place, which will also improve preparations for changes under the Future Pensions Act (Wet toekomst pensioenen, Wtp). ‘This allows us, as a fund, to independently decide on our strategy for the future, in close cooperation with the administrator and other clients,’ says chairman Arend de Jong. There are also longer-term cost advantages.
For members of the pension fund, there will be no change to services. At the same time as the acquisition, PDN signed a Service Level Agreement with DPS for at least the next five years. This not only ensures continuity of service, but also keeps the service at least at the same level as our members are used to. Pension and investment policies will also remain the same.
PDN has a total of 27,000 members and 16 affiliated companies, including dsm-firmenich.
Please contact our spokesperson, Alfred Kool, if you have any questions.
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