#Apg pension software

About Festina FinanceДЇestina Finance, founded by Morten Schantz, is a Danish fin-tech company, developing advanced financial software systems for pension administrators, pension funds, insurance companies and banks. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects.ДЄPG manages approximately в‚¬576 billion (May 2022) in pension assets. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. Within this context, we are fully focused on supporting APG in this major transition.вЂќДЄs the largest pension provider in the Netherlands APG looks after the pensions of 4.8 million participants. The cooperation with the APG organization is open and very constructive. In collaboration with the largest pension fund in Denmark, we have previously realized a similar system solution. This offers many advantages in responding to new developments in this area. New developments in portals and communication, for example, can easily be realized, without having to adjust the pension administration itself.

#Apg pension full

This gives APG full control in compiling its IT landscape, focused on innovation, and services for customers and participants. Our cloud-based system is fully integrated within the APG-IT landscape and thus forms one complete system with the total APG application landscape.

We are particularly proud that APG has chosen Festina Finance Life and Pension Platform as its new pension administration system after an extensive selection procedure. вЂњThe Pension Agreement is the largest transition since the start of supplementary pension schemes in the Netherlands, it affects the entire market and in almost all cases means a transition to a new pension administration system. Morten Schantz, Chairman of the Board of Festina Finance: This step is a special moment for our employees, our pension fund clients and the entire sector that already exists for 100 years.вЂќ We are proud that APG, as the market leader, is taking this innovative step. In Festina Finance we have found an entrepreneurial partner who, like us, will do whatever it takes to take the best imaginable step forward. We want to be able to rely upon the latest and most innovative technology. After many years of fine-tuning the current, excellent pension system, the entire system is reformed. вЂњWe are on the verge of a major transition in the pension industry. Other reasons for APG to opt for collaboration with Festina Finance are the present knowledge on pensions, state of the art technology, flexibility and a similar corporate culture (вЂcultural fitвЂ™).ДЇrancine van Dierendonck, Member of the Executive Board and Chair of Fund Management and Participants and Employers Services: Of course, the new system will be connected to APGвЂ™s IT landscape. In the first phase, Festina Finance will give intensive support but at a certain moment, APG will take full responsibility. The cooperation between APG and Festina Finance is innovative. Festina Finance had developed an IT system to support such вЂdefined contributionвЂ™ pensions. The IT system supports the new pension system thatД®ntails many changes in terms of pension administration.ДЄPG chooses this Danish FinTech company because, amongst other reasons, the Dutch pension system will be converted into a system of which certain elements are already customary in Denmark.Дifferent from the current system, the pension capital individually accrued by the participants will determine the pension benefits in the new contracts. A total of 4.8 million persons are served byДЄPGвЂ™s pension fund clients. Press release 21 June 2022 Pension administrator APG will, with the help of the Danish FinTech company FestinaДЇinance, develop an IT system for the policy and capital administration of its pensionДЇund clients, including ABP and bpfBOUW.