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Pensions administrator TKP signs with Ohpen

Source: Ohpen

Today, TKP Pensioen and core-banking provider Ohpen announce their cooperation in the DC pensions sector.

With this move, the pension administrator is looking to realise its ambitions in this area, while for Ohpen the partnership will allow it to enter the pensions market. Both parties expect a great deal from this win-win situation.

The Groningen-based company is in the process of creating a state-of-the-art digital pension platform for participants and employers in which 'convenience' and 'insight into the financial situation of individual participants' are of paramount importance. TKP had been looking for a investment administration partner that could help them achieve this, and Ohpen was the best choice.

According to Bert Vos, CFO at TKP, Ohpen's cutting-edge core-banking solution fits in seamlessly with the demands and requirements of customers, participants and employers when it comes to the administration of their DC schemes. "In an era in which pensions and wealth accumulation are becoming increasingly intertwined, joining forces within the banking and administration sector is, in our view, the way to go."

"The current administrative core of TKP is a robust and stable system. At the same time, developments are progressing at a rapid speed: technology is offering more and more possibilities, legislation and regulations are changing, pension plan participants are expecting more, and the nature of the Dutch Pension Agreement, which will change the pension system fundamentally, is becoming increasingly clear," adds Vos.

The integrated solution (digital pension platform/ investment platform) is being developed from scratch in the cloud and is therefore easily scalable. The platform enables each participant to have a simple and real-time understanding of their individual pension, accumulation and decumulation possibilities. As a result, they will find making the right choices for the future easier than ever before and will have full control over their pension buckets.

Matthijs Aler, CEO of Ohpen, says: "By integrating both platforms, this originally conservative industry will now have a fully digital and futureproof pension solution at its disposal. A solution focused on the individual but with the advantages of the collective. With years of retail experience in the banking world, we as a fintech company are going to do a lot for the pension world when it comes to digital individual customer service".

Bert Vos says: "The collaboration between TKP and Ohpen is fully in line with our vision for participant and employer service offering as well as our innovation programme TKP Connect, which has ease of use as one of its core aims. With TKP Connect, we help pension funds implement their strategy in a world that is changing rapidly".

TKP will initially use Ohpen's platform for investment account administration, allowing its customers to offer pension participants modern investment propositions.

Ohpen is no stranger within Aegon, having worked with Knab on banking annuities and (deposit) savings since 2017.

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