The 2025 Annual Report of Staples Pension Fund has been published. 2025 was a landmark year for our pension fund, as on 1 July 2025 all accrued pension benefits and entitlements were transferred to Aegon Levensverzekering N.V., a subsidiary of a.s.r. (hereinafter referred to as “Aegon”). The annual report provides further information on the transfer of the pensions, the policy pursued by the fund, and our financial results.
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Pension Transfer to Aegon Completed on 1 November 2025
Our pension fund formally entered liquidation on 18 June 2025. On that date, the Board signed the agreement with Aegon for the transfer of all accrued pensions. Effective 1 July 2025, all accrued pensions were transferred to Aegon. The final migration of the pension administration was completed on 1 November 2025.
Annual Pension Increases Guaranteed
Due to the transfer, the method for increasing accrued pensions has changed. Prior to the transfer to Aegon, accrued pensions were increased in line with Dutch price inflation, provided the fund had sufficient financial resources to grant such increases.
From 1 January 2026 onwards, accrued pensions will be increased annually in line with European price inflation (HICPxT). These annual increases are guaranteed and therefore unconditional. In addition, the transaction made it possible to grant an interim increase of 1.86% to all (accrued )pensions as of 1 July 2025.
Financial Position Improved in 2025
The fund’s current funding ratio stood at 132.8% as at 30 June 2025, immediately prior to the transfer to Aegon and the conversion of future accrued pension increases into unconditional indexation. At the end of 2024, the funding ratio was 127.8%.
On 1 July 2025, pension liabilities amounting to more than €659 million, together with the corresponding assets, were transferred to Aegon.
Development of the Number of Participants in 2025
| Per 30 june 2025 | Per 31 december 2024 | |
| Active members (participants receiving disability benefits) | 32 | 33 |
| Deferred members (former employees with accrued pension entitlements) | 3148 | 3240 |
| Pensioners (retired members receiving a pension) | 4137 | 4158 |
| Total | 7317 | 7431 |
Board of Liquidators Responsible for Further Wind-Up
Due to the liquidation, the Board has ceased to exist and has been transformed into a Board of Liquidators. The former members of the Board now serve as the Board of Liquidators and are responsible for the winding-up of the pension fund.
It is expected that all remaining obligations of the pension fund will be settled by the end of 2026. Any funds remaining after all obligations have been met will be used to provide a small additional pension increase for all members.