The Dutch foundation of dockworkers, unions and employers has reached the deal regarding ‘blocked pension capital’ held by Aegon since its takeover of the pension firm in 2007. The settlement consists of a redemption package with a total value of approximately EUR188 million.
Dockworkers and port employers will be asked to vote in a referendum in May to assess the outcome of the negotiations.
In reaction to the settlement, chairman of FNV dockworkers union Niek Stam said: “The so-called blocked capital originally amounted to a little over EUR700 million. In 2010 our foundation received 500 million from the people who sold the Optas insurance firm to Aegon. With Aegon’s contribution we now attain a total of EUR688 million.
“And all those years employers and employees stood together in our struggle for justice. A great help was the support of our union colleagues in the United States, Great Britain and Australia. I am deeply grateful to the Brotherhood of Teamsters, ILWU and ILA for putting pressure to Transamerica/Aegon in San Francisco, to RMT and Unite for organising our Put the money back campaign at the Wimbledon warm-up tournament in Eastbourne, and to MUA for demonstrating with us at the Aegon-offices in Sydney. It has been the global character of our campaign that could finally prompt a global insurance giant to settle its conflict about the pension money of dockworkers.”