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Robeco starts European PPI with foundation status

10-08-2011 | Press release

Robeco has been licensed by the Dutch central bank, De Nederlandsche Bank, to run a PPI (Premie Pensioen Instelling, which is an Institution for Occupational Retirement Provision, IORP). Since legislation to introduce IORPs came into effect (Wet introductie premiepensioeninstellingen), parties other than insurers and pension funds have been permitted to implement pension plans. With its PPI, Robeco is entering the rapidly growing market for pension providers.

From the Netherlands, its home ground and a pension country, the Robeco PPI will target the European market. In addition to medium-sized and large Dutch companies, Robeco will focus predominantly on companies that wish to consolidate to European standards. Robeco will thereby also be accommodative to the ambitions of the Holland Financial Centre.

By choosing the status of a foundation (stichting), the Robeco PPI can focus optimally on the interests of the group (employers and employees). The service package of the suppliers, including its price, will be monitored regularly by the foundation, which is a non-profit institution. Clients will also be given a role in evaluating the services provided by the Robeco PPI.

Roderick Munsters, CEO at Robeco: “As a member of the Board, I am actively involved in the Holland Financial Centre and am satisfied that, with its PPI, Robeco can contribute to the mission of the HFC of maintaining a strong, open and internationally competitive financial sector in the Netherlands.”

The international focus of the Robeco PPI is also reflected in the parties that Robeco unites under its PPI. A partnership has been entered into with Generali, a company that specializes in pension and income insurances, to cover the insurance risks. In addition to the ongoing success of the partnership with Generali for Robeco’s present defined-contribution solutions, this choice of partner was also largely determined by the company’s international network.  The selected administrator, the German company Lohoff & Partner, specializes in international administration and communication for participants in pension plans.

The investment component of the Robeco PPI will be implemented on the basis of life-cycle investments – an investment policy adapted to a participant’s age. The exact amount of investment risk any participant is willing to take can be modified by the employee throughout the lifespan of the plan using the online pension tool. In addition, it is possible to incorporate diverse security measures with products that offer deposit guarantees and inflation and interest-rate fluctuations protection. 

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