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. 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. “The 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.” 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. “We 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 (‘cultural fit’).įrancine 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 APG’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 ‘defined contribution’ pensions. The IT system supports the new pension system thatĮntails many changes in terms of pension administration.ĪPG 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.ĭifferent 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 byĪPG’s pension fund clients. Created in 1991, we have over 20 years experience in our field and an integrated capital of EUR2,000,000 responsible for over EUR2.3 billion of airline revenue.Press release 21 June 2022 Pension administrator APG will, with the help of the Danish FinTech company Festinaįinance, develop an IT system for the policy and capital administration of its pensionįund clients, including ABP and bpfBOUW. We have extensive experience with IBCS, the BSP “pay as you earn” system, originally created by APG in partnership with IATA and which has now evolved into the ABCS product offering airlines full support services for BSP participation.ĪPG has the most extensive network worldwide and across all continents. Key points when choosing APG as a partner:ĪPG is an airline focused representation network – we do not represent hotels, cruise companies or tourist boards along with our airline clients – we are airline people and we understand the needs of airlines as a resultĪPG provides a wide range of distribution products from GSSA services to ABCS to IET distribution, allowing airlines to minimize administrative cost by working with one partner who can provide linked up distribution solutions. e our single aim: how to improve the sales and distribution processes of the airlines. To support our activities, APG Network organizes a yearly World Connect Conference where top airline executives are invited to shar. Today, APG Network collectively serves over 200 airlines worldwide.
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