In the case of collective value transfer, all accrued pensions are transferred to another pension provider, in this case to Stap. The value of the pensions remains the same. 

The pension fund board decides whether collective value transfer is the right choice, but the receiving pension provider must also agree to the value transfer. In addition, the supervisory authority, De Nederlandsche Bank, must have “no objection” to this collective value transfer. 

The transition to Stap is an agreement between the employer and the unions. The employer has formally terminated the implementation agreement with IFF Pension Fund. This is the employer's right. 

The intention to transfer the collective value has been submitted to De Nederlandsche Bank. On September 5, DNB issued a statement of no objection. This means that on October 1, the value of all pensions held by IFF Pension Fund will be transferred to Stap. You cannot object to the transfer of the value of the pensions to Stap. This is laid down in the Pensions Act. 
 

No. In the case of collective value transfer, all accrued pensions are transferred to another pension provider, in this case Stap. The value of the pensions remains the same. 

In addition to supervision by De Nederlandsche Bank, the collective value transfer will also be audited by an accountant.

A General Pension Fund (APF) is a single pension fund with a single board but with multiple affiliated employers and pension schemes. An APF can divide the implementation of a pension scheme into different groups. Within an APF, it is possible to opt for a separate collective group. The separate collective group is essentially a ‘separate fund within a larger whole’. Within a separate collective group, participants share the risks and returns with each other. By joining an APF, IFF retains its own identity and solidarity, while also achieving economies of scale.

In recent years, the General Pension Funds have demonstrated that they are future-proof. Stap is currently the largest APF in the Netherlands. Stap has its own professional board and, thanks to its size, is better able to comply with the increasingly strict rules that pension funds in the Netherlands must adhere to. 

IFF Pension Fund deposits the assets in its own collective scheme. This scheme has its own pension regulations and agreements with the employer. By opting for its own collective scheme, it is possible to transfer the current pension scheme on a one-to-one basis. 

The investment policy remains virtually unchanged. This is because the fund's assets are placed in a separate collective pool, separate from the other collective pools within Stap. 

A few months after the collective value transfer, once the liquidation has been completed, IFF Pension Fund will cease to exist. 

All data relevant to the proper administration of your pension at Stap will be transferred. In addition to information about your pension, your email address will also be transferred. You will receive a request from Stap to use your email address. And you can, of course, choose to withdraw your consent to the use of your email address at a later date, just as you can now with IFF Pensioenfonds. 

Until the collective value transfer has been completed, you will remain with IFF Pension Fund and can contact us with any questions you may have. From October 1, you can contact Stap for all matters relating to your pension.