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Robeco PPI chosen by Nutreco

01-12-2011 | Press release

Robeco has announced today that Nutreco is placing its supplemental occupational pension schemes and early-retirement plans with the Robeco Institution for Occupational Retirement Provision, PPI. As of 1 January 2012 the schemes with more than two thousand members in the Netherlands will be executed by the Robeco PPI. This is the first mandate Robeco has won since the launch of its PPI three months ago.

Theo Versteegen, Corporate Pensions Manager at Nutreco: “As employer, together with our trustees, we were looking for a party with a good and solid reputation that could pay due care to our defined-contribution (DC) schemes at attractive conditions. In view of the unwinding of our own pension trust we have transferred the schemes to the Robeco PPI. The many years of experience with Robeco in the field of DC schemes makes that we are confident that the Robeco PPI is the most suitable party to provide our employees with solid supplemental pension plans and early-retirement pensions.”
 
Jacqueline Lommen, Director European Pensions at Robeco: “International streamlining, IFRS rules and European pension legislation make corporates look for alternative ways to organize their pensions. This is a long term growth market that fits well with our institutional ambitions. With our PPI we enable corporates to gain more control over their pension liabilities and costs. The PPI also enables them to manage several international schemes via a single provider. For employees the PPI provides a solid and comprehensive pension provision with limited risks. Nutreco's choice also proves that a PPI is an excellent alternative for pension trusts in liquidation.”
 
The PremiePensioenInstelling (PPI) is the Dutch equivalent of the IORP and has been introduced in the Netherlands as of 1 January 2011. The PPI vehicle is a new kind of pension institution next to insurers and pension trusts and is particularly well suited to offer defined-contribution plans and cross-border pension solutions. The Robeco PPI Foundation was one of the first parties in the Netherlands to be granted a license in August 2011. By setting up the Robeco PPI Foundation and introducing Smart Pension, Robeco PPI's pension scheme, Robeco builds on its extensive experience in the field of DC schemes and life cycle investing. Moreover, Robeco leverages on Parent company Rabobank's network. 

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