The most important part of the contract concerns the pensions accrued in the past for 1,200 former employees. The Pension Fund will pay a lump sum to Zwitserleven, in exchange for which Zwitserleven will insure payment of the pensions, including a guaranteed annual increase of 90% of the European inflation rate.
In addition Zwitserleven will insure the future pensions of Dexia Bank Nederland employees against an annual premium.
The contracts were signed directly after reaching agreement by Lambert Thiry (Chairman of the Board of the Pension Fund) and Jos Brumagne (Member of the Board and CFO of Dexia Bank Nederland). Zwitserleven’s Chairman Marco Keim received Lambert Thiry, Jos Brumagne and Carolyn Fung Fen Chung of Dexia, together with the Zwitserleven sales team, for a signing celebration.