Dutch Central Bank explains policy on collective value transfer

The Dutch Central Bank (DNB) recently published an overview of factsheets and Q&As elaborating its policy on collective value transfer. For example, DNB sets out which steps must be taken to achieve a collective value transfer and which aspects pension funds must consider during the start-up of the transfer process and the transitional period. DNB also clarifies collective value transfer at liquidation, and provides information about amendments to the pension agreement that are needed when the contractual retirement age changes. DNB has also introduced guidance on the content of the collective value transfer agreement between an insurer and a fund in liquidation. Clients would do well to study DNB’s policy and the guidance given.

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