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SP Staples Pension Fund
Stichting Pensioenfonds Staples operated as a closed, independent pension fund from its base in Amstelveen, serving former employees of the Staples companies...
SP Staples Pension Fund
Stichting Pensioenfonds Staples operated as a closed, independent pension fund from its base in Amstelveen, serving former employees of the Staples companies in the Netherlands. The fund stopped admitting new members in 2015 and was formally converted to a dormant fund in 2018, after which its sole purpose was managing legacy liabilities until a full buy-out became feasible. The sponsoring employer, Staples Nederland B.V., was declared bankrupt in October 2023, removing the last operational link and accelerating the pension fund’s path to liquidation. The fund’s investment approach in its active years blended a global listed real estate portfolio with a private equity allocation, managed through external mandates rather than an in-house investment team. As a signatory to the UN Principles for Responsible Investment, the fund embedded ESG criteria into its manager selection, reflecting standard Dutch institutional practice. By early 2025 the assets had been repositioned for the insured buy-out, leaving no active direct deployment or ongoing fund commitments. The board wound down the vehicle in two tightly managed steps. On 1 July 2025 the fund transferred all accrued pension liabilities to Aegon Levensverzekering, a subsidiary of a.s.r., securing the benefits for roughly 1,000 members represented by the Union Retirees Pensionfund Staples (VDPS). The final migration of the pension administration to Aegon completed on 1 November 2025, and the fund currently exists only in liquidation, supervised by De Nederlandsche Bank. What distinguishes this fund is its end state as a pure run-off vehicle that managed to complete an insured buy-out after losing its sponsoring employer to bankruptcy — a stress-test that many closed Dutch schemes have yet to pass. The absence of a successor sponsor, combined with regulatory pressure from DNB, forced a clean resolution rather than a protracted self-administration, making the dissolution sequence a compact case study in liability-driven wind-down discipline.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
Netherlands
City
Amstelveen
Corporate office
Amstelveen, Netherlands
Principals
Staples Nederland B.V.
Former sponsoring entity
Sector focus
Frequently asked questions
What is the current status of SP Staples Pension Fund?
The fund is in liquidation. It transferred all accrued pension obligations to Aegon Levensverzekering on 1 July 2025, with the final administration migration completed on 1 November 2025. The board is now dissolving the fund under regulatory oversight from De Nederlandsche Bank.
Why did the fund decide to transfer its pensions to Aegon?
The fund had been closed to new members since 2015 and dormant since 2018. The bankruptcy of the sponsoring entity, Staples Nederland B.V., in October 2023 removed any remaining employer support, making an insured buy-out the most secure path for the fund’s roughly 1,000 members. The board selected Aegon Levensverzekering, a subsidiary of a.s.r., to underwrite the liabilities.
What assets did the fund manage before the transfer?
The fund maintained a global listed real estate portfolio and a private equity allocation, both managed through external mandates. It was also a signatory to the UN Principles for Responsible Investment, requiring its asset managers to integrate ESG criteria. All assets were liquidated or repositioned as part of the buy-out preparation.
How is the Union Retirees Pensionfund Staples involved?
The Union Retirees Pensionfund Staples, known as VDPS and formerly Vereniging Gepensioneerden Buhrmann/CE/Staples, represents the interests of the fund’s pensioners. With roughly 1,000 members, it acts as an advocacy group ensuring the buy-out terms with Aegon protect accrued benefits.
Who supervised the liquidation and transfer process?
De Nederlandsche Bank served as the regulatory authority overseeing the fund’s liquidation and the transfer of all pension obligations to Aegon. DNB’s role included approving the buy-out and ensuring the fund met solvency requirements before dissolution.
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