PPF APG and PWRI have started their transition communications. The boards of both pension fund clients of APG decided this. In the coming period, the approximately 8,000 members of PPF APG and the more than 190,000 participants of PWRI will receive the (digital) transition statements in combination with the regular Uniform Pension Statements (UPOs).
These are intense times for PPF APG. Will APG be able implement the new system? Can PPF APG switch over to the new system? Does PPF APG want to transition, given its financial position? The final answer to these questions will follow no later than December 5, when APG’s staff pension fund will make the final decision to transition.
In the run-up to that date, PPF APG’s board has decided to start transition communications. The same applies to PWRI, which will make its final decision on transitioning no later than Dec. 6. Not an easy decision for either fund, incidentally. The production process to start sending the transition statements had already started previously, but there was still the option to press the stop button until the last moment. This turned out to be unnecessary.
Right on track
“We are still on track to transition to the renewed pension system by January 1, 2025. That means that our participants will enjoy the benefits of the renewed system as early as January 1, 2025. That is a tremendous achievement, and the people who have worked so hard for this certainly deserve to be commended. But we’re not there yet. In the coming period, we will continue to work just as hard to ensure a controlled transition,” says Tinka den Arend, chair of the PPF APG board.
