Centric takes next step in growth strategy - Appel Pensioenuitvoering takes over pension activities

GOUDA, March 30, 2022 - Centric is transferring the pension activities of Pension and Insurance Solutions B.V. (PaIS) to Appel Pensioenuitvoering B.V. All pension plans of Centric customers will be included within the same pension administration system that Centric PaIS uses at Appel. This also applies to the pension schemes of the new pension system.

Johan Taams, CEO Centric: "At the end of last year we announced that we would be taking a close look at which activities would fit in with our new strategy. The consolidating pensions market does not offer us the growth we are seeing in the Public Sector, Retail & Logistics, Finance & Insurance and Industry markets. In these markets, we create new opportunities by combining our unique sector knowledge with sector-specific software and generic services. We use this to help companies and governments with their digital transformation. We invest heavily in our cloud practice, among other things.”

The transfer from Pais to Appel will start on April 1, 2022, after which a careful transaction will take place. Appel's advanced IT infrastructure and proprietary working methods will enable a controlled transition to the flexible and defined contribution scheme. Financial details of the deal will not be disclosed. The business operations and culture of Appel and PaIS are highly similar. Clients of PaIS will notice little of the transition and are assured of a high-quality and future-proof pension administration.

Hans Bleijenberg, Director of Appel Pensioenuitvoering: "I am delighted that Appel can work with the experienced professionals of PaIS to ensure the best execution of pension plans, now and later under the new pension system. By combining our knowledge and experience, we can surprise all clients with ever higher service levels. This starting position helps us to realize Appel's good future prospects in the pension industry faster."

About Centric

Centric is an IT organization with 3,700 professionals in the Netherlands, Belgium, Germany, France, Lithuania, Luxembourg, Norway, Romania, Sweden and Switzerland. In the Netherlands alone, Centric serves over 3,500 customers, with more than 200 Software, IT outsourcing, Business Process Outsourcing and Staffing activities. Many end users rely on Centric solutions in their work every day. Centric has a strong focus on the Public Sector, Retail & Logistics, Finance & Insurance and Industry. In 2020, Centric recorded a turnover of 437 million euros, EBIT of 16 million euros and solvency of 43%. More information: www.centric.eu/en.

About Appel Pensioenuitvoering

Appel is an independent pension administrator with 38 employees and offices in Almere and Rijswijk. Appel provides pension administration for several company and industry pension funds, an insurer and several foreign entities. More than 100 thousand participants rely on Appel for their pension communication and pension payments. In addition, Appel handles the collection of pension contributions for employees working for more than 2 thousand employers. Appel's turnover for the year 2021 was 6.5 million euros.

More information?

Sjoerd Pasman, Marketing and Communications Manager

For more information you can send an email to sjoerd.pasman@centric.eu or call +31 6 25 75 76 56.