Athora Netherlands, a specialist life insurer and pension provider known for supporting pension fund transitions in the Dutch market, has facilitated two major pension buyouts through its Zwitserleven brand—marking significant steps in the country’s shift to the new pension system.
Together, the transfers cover more than 9,500 participants and nearly €1.13 billion in pension capital, marking a significant moment in the country’s shift toward insured pensions.
The larger of the two transfers involves the Nedlloyd Pension Fund, a closed scheme since 2020. With around 8,200 participants and approximately €950 million in assets, this marks Zwitserleven’s biggest buyout to date.
The deal has been approved by the Dutch Central Bank (DNB), and the pension fund will now begin the process of winding down. From 2026, members will receive a fixed annual increase of 3% for four years, followed by a projected long-term indexation of around 1.3%.
Annemieke Visser-Brons, a member of the Executive Committee of Athora Netherlands, said: “With this transaction, Zwitserleven once again offers an attractive solution for a pension fund and its participants in the complex transition to the new pension system. This allows Nedlloyd participants to enjoy an insured pension with Zwitserleven. I would like to thank the pension fund board for their trust and extend a warm welcome to all these new customers of Zwitserleven.”
Jacco Heemskerk, Chairman of Nedlloyd Pension Fund, commented: “After an extensive process, we have opted for a transfer to Zwitserleven. The board believes that Zwitserleven offers the best solution for both former participants and pensioners. There is security with regard to the pension payments and purchasing power will increase through the partial realisation of the catch-up indexation and a fixed annual indexation.
“Zwitserleven also had the best proposal for the takeover of all our investments. Finally, the method of communication, service and sustainability all played a role in our decision-making. Transferring the pensions to Zwitserleven gives our participants the security of a good pension with a financially strong insurer.”
Just two days after the Nedlloyd announcement, Athora Netherlands also confirmed the buyout of the Trespa Pension Fund.
This smaller transaction covers around 1,300 participants and €180 million in capital. Participants received a one-time 10.5% pension increase on 1 April 2025 and will benefit from a fixed annual indexation starting in January 2026, with the exact level to be determined. The fund has been closed since late 2022, and the transfer was made official after a declaration of no objection from the DNB.
Visser-Brons further noted: “Our second buy-out transaction this year shows that Zwitserleven’s expertise in this field is appreciated. We offer Trespa a suitable solution that allows participants to enjoy an insured pension with Zwitserleven. I thank the board of the pension fund for their trust and extend a warm welcome to all these new customers of Zwitserleven.”
Erik Goris, Chairman of the Trespa Pension Fund, said: “The board believes that transferring the pensions to Zwitserleven will give our participants the security of a good pension with a well-capitalised insurer. We have gone through a careful selection process for this transfer, in which we have not only considered granting indexation, but also criteria such as communication and service provision.”
As more pension funds prepare for the nationwide transition to the new pension system, Athora Netherlands continues to build momentum.
With its insurance-based approach and dedicated pension brand Zwitserleven, the company is offering tailored solutions that address the challenges many funds now face—ensuring long-term stability for participants in a changing system.
