Sichting Algemeen Pensioenfonds Stap (Stap) will administer the current pension scheme, as currently administered by IFF Pension Fund, effective October 1, 2025.

This means that for you, nothing will change at first. Your pension will remain with IFF Pension Fund until October 1, 2025. On October 1, we expect to collectively transfer the accrued value of all pensions to the new administrator Stap. This collective transfer requires the consent of the Accountability Body (VO) and a statement of no objection from De Nederlandsche Bank (DNB).

Even after October 1, 2025, nothing will change for you at first. You will continue to accrue or receive your pension with Stap as you are used to. 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. 
 

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. The administration agreement contains agreements on how the current pension scheme is to be administered by 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.

Also the proposed decision was 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.