BNP Paribas securities services has been appointed as global custodian and administrator by Oak Pensioenfonds for €5.4 billion in invested assets. 
The mandate includes custody, investment administration, compliance monitoring, performance measurement and regulatory reporting.
Following a competitive selection process, Oak Pensioenfonds selected BNP Paribas based on its local market presence, deep understanding of the Dutch pension landscape, and expertise in implementing the Wet toekomst pensioenen (Future Pensions Act).
“We are delighted to support Oak Pensioenfonds during this important phase of change,” said Mark Schilstra, head of securities services Netherlands at BNP Paribas. “Our dedicated local team, backed by senior management commitment and our European scale, ensures a smooth onboarding process and a long-term partnership. This mandate confirms our ability to effectively support Dutch pension funds in a dynamic market environment.”
The onboarding and migration process is currently underway, with go-live scheduled for 1 July 2025.
Paul de Geus, executive board member of Oak Pensioenfonds, said: “In selecting a new service provider, we were looking for a party with in-depth knowledge of the Dutch market and the changing pension legislation.”
de Geus added: “BNP Paribas not only showed a convincing transition and implementation plan, but also demonstrated strong local commitment and investment in relationship management. Choosing a European provider with relevant references gave us confidence that they are the right partner for us.”
The appointment comes as Dutch pension funds continue preparations for the upcoming transition to the new defined contribution-based system under the Future Pensions Act.