KBC Pension Fund and KBC Pension Fund Service – the multi-employer pension fund – win no fewer than four IPE awards
Life made easier for companies thanks to multi-employer pension fund, KBC Pension Fund Service
Monday, December 7, 2020 — Barely a year after its launch, KBC Pension Fund Service – along with KBC's own pension fund (KBC Pension Fund) – received four awards from IPE (Investments & Pensions Europe), the leading European publication for institutional investors and those running pension funds.
Every year, the performance of various pension funds throughout Europe are honoured at the IPE Awards. IPE works closely with the world's leading consultants, asset managers and other experts to select the deserving winners.
- The IPE Award for 'Best Pension Fund in Belgium' for the second year in a row.
- Two themed awards:
- for 'Portfolio Construction & Diversification' (recognising the broader allocation of assets in the share portfolio, diversification into private assets and the focus on ESG or sustainable investments), and
- 'DC & Hybrid Strategies' (recognising updated pension schemes, extensive risk control and increased operational efficiency).
- The Silver Award for 'Best European Corporate Pension Fund'.
KBC launched its multi-employer pension fund a year ago. Running the fund with partner EBCS, KBC makes its pension expertise available to other companies.KBC Pension Fund is the second pillar pension fund for KBC staff.
Luc Vanbriel, CIO of KBC's pension funds, was justifiably proud of this achievement: ‘These awards recognise the hard work put in by the entire team, the excellent degree of cooperation with stakeholders and the expertise of internal and external partners. These awards also underpin the vision and strategy for striking the right balance between the interests of employers who are looking to keep an eye on their pension costs and the interests of the members whose vested rights are being managed. At the same time, KBC is endeavouring to make a constructive contribution to society by focusing on sustainable investments.’
Kurt Termote, General Manager of KBC Pension Fund Service, had this to say about the silver award: ‘This award is perhaps the one that gives us most satisfaction. If we just consider KBC Pension Fund's assets under management, we are 529th in Europe in terms of size. That's why it's all the more gratifying to receive this award and to leave so many competitors and other excellent funds in our wake. It shows that the standards in Belgium are very high indeed.’
About KBC Pension Fund Service (multi-employer pension fund)
Since the start of this year, KBC has been offering businesses the possibility of joining KBC Pension Fund Service, a multi-employer pension fund. The fund benefits from the expertise and know-how that KBC has accrued to manage the pension funds of and for third parties. It draws to this end on a dedicated team, which currently manages KBC’s own pension fund, backed up by expertise from KBC Asset Management for managing the assets and EBCS for providing administrative and actuarial services.
A company can opt to offer its employees a new pension scheme within this multi-employer pension fund or can transfer its existing pension fund to it. It can count on KBC’s support in both setting up and managing the pension fund. By developing this fund for third parties, KBC is responding not only to the wave of consolidation on the market for second pillar pensions, but also to the climate of low interest rates.
The formula goes down well with customers because it offers customisation, flexibility, tailored advice and less administrative hassle, though continuity of service and transparency are important aspects too.
At present, four member funds have joined the multi-employer pension fund. A member fund is a legally separate fund with its own financial statements. In 2020, a series of pension schemes had been completed for 1 January 2021 and other schemes are being prepared for 2022. These are either existing funds that want to join or employers looking for an alternative to their group insurance schemes.