Last December, employer IFF and employee representatives finalized the agreements on the new pension plan. The constituencies agreed to these agreements. These agreements are laid down in the so-called transition plan.

This transition plan will be presented to the party that will administer the new pension plan. 
 

Your new administrator is Stichting Algemeen Pensioenfonds Stap

Stichting Algemeen Pensioenfonds Stap (Stap) will administer the current pension scheme, as currently administered by IFF Pension Fund, effective October 1, 2025. For you, nothing will change at first. Your pension will remain with IFF Pension Fund until October 1, 2025. At that time, we expect to collectively transfer the accrued value of all pensions to the new administrator Stap. Even after October 1, 2025, nothing will change for you at first. You will continue to accrue or receive pensions with Stap as you are used to, according to the existing pension scheme.

The aim is to transfer to the new pension scheme, as set out in the transition plan, with effect from January 1, 2027. In the run-up to the transition to the new scheme, you will receive detailed information from Stap about what the new pension scheme means for you. 

Nothing changes for you yet. We are busy preparing

There are many arrangements to be made to enable the switch to Stap on Oct. 1, 2025. Recently, the employer formally terminated the administration agreement with IFF Pension Fund. With the termination of the administration agreement, IFF Pension Fund’s administration of the current pension scheme will end on October 1, 2025. 

The proposed decision was also made to collectively transfer the accrued value of all pensions to Stap. IFF Pension Fund and Stap agreed to this together. This means that IFF Pension Fund will eventually cease to exist. Formally, this is called the pension fund going into liquidation.