Finance
Dutch pension fund manager APG cuts up to 1,200 jobs
Published by Global Banking and Finance Review
Posted on December 10, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 10, 2025
1 min readLast updated: January 20, 2026
APG will cut 1,200 jobs by 2030 to reduce costs amid Dutch pension reforms. The shift to a defined contribution system aims for better results.
AMSTERDAM, Dec 9 (Reuters) - Dutch pension fund manager APG will cut up to 1,200 jobs through 2030, it said on Tuesday, reducing total headcount by a third, as it aims for lower costs in line with sweeping reforms of the sector.
The reorganisation would reduce employment to around 2,500 jobs by the end of the decade.
APG manages the investments of ABP, the largest pension fund in the Netherlands with assets worth 590 billion euros ($686 billion).
Under an overhaul of the Dutch 1.45 trillion euro private pension industry, Europe's largest, which was announced in 2023, funds are shifting from guaranteed benefits, meaning a guaranteed level of income for the pensioner, to a "defined contribution" system.
Proponents say this will yield better results, though opponents have warned of the risks it introduces because pensions will depend on the performance of financial markets.
Funds have until 2028 to make the transition.
($1 = 0.8599 euros)
(Reporting by Bart Meijer; editing by Barbara Lewis)
A pension fund is a type of investment fund that collects and invests money to provide retirement income for employees. It is typically managed by a financial institution and aims to grow the funds over time.
Job cuts refer to the reduction of employees in a company, often due to restructuring, cost-cutting measures, or changes in business strategy. This can lead to layoffs or voluntary separations.
An investment portfolio is a collection of financial assets such as stocks, bonds, and other securities held by an individual or institution. It is designed to achieve specific investment goals.
A defined contribution system is a retirement plan where the employer, employee, or both make contributions to an individual account. The retirement benefits depend on the account's performance and contributions.
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