Defined Contribution
The growing demand from pension funds for Defined Contribution (DC) pension schemes provided by an asset manager has led to the creation of a business unit within ING Investment Management (ING IM) fully dedicated to servicing pension funds with a DC pension scheme. Through the My Pension product, ING IM bundles all available asset management skills and pension fund know-how into a best-in-class DC administration service towards both pension funds and their participants.
My Pension is a strategic ING IM initiative. In the longer term, affordability and sustainability of Defined Benefit (DB) pensions are reasons (due to e.g. demographic factors, pressure on solidarity, increasing individualisation, and accounting standards) that will cause the Dutch DC market to grow more rapidly. It is our strategy to be a leading provider of DC solutions supporting participants and pension funds through the unique combination of:
1 |
Industry-leading LifeCycle Mix portfolio construction and management; |
2 |
Full-service participant and pension fund web channels; |
3 |
Revolutionary support for Duty of care obligations (zorgplicht) |
4 |
Open and fully transparent insight in costs and performance; |
5 |
Unrivalled cost-efficiency through economies of scale and use of modern technology; |
6 |
Excellent operational track record with timely processing and SLA reporting; |
7 |
Open-architecture based business model. |
Since the introduction in 2006 My Pension has been the fastest growing contender in the Dutch DC market.
About EMD Strategy & Outlook Q2