The latest client win news from Lumera;
Lumera, a leading insurtech company dedicated to the digital transformation of the European Life and Pensions industry, announces a key milestone in its migration project with PNO Media, a pension fund for the Netherlands creative and digital sector. Following a meticulous eighteen-month implementation, PNO Media is now fully live on Lumera’s pensions administration platform.
PNO Media has embarked on a systems overhaul targeting a modern, future-proof SaaS environment, migrating to Lumera’s platform while phasing out legacy, in-house developed systems. This initiative enables the transition to the new Future Pensions Act (Wtp), while supporting PNO Media’s objectives to leverage growth opportunities arising from the pension reform.
“We are very pleased to see our partnership with PNO Media come to fruition and look forward to the next milestone which entails full Wtp implementation,” says Chris Melis, Managing Director, Lumera Netherlands. “The current period of transition has raised the bar for the Netherlands pensions sector, with new requirements on efficiency and administration which call for innovative digital solutions. PNO Media has embraced this challenge and its Wtp journey should serve as inspiration for many like-minded organisations.”
By completing the first phase of the project, PNO Media has successfully migrated its Defined Benefit Financial Assessment Framework (FTK) pension scheme with 75,000 existing policies to the Lumera AxyLife platform. Additional policies currently under third party management will be migrated concurrently with the transition to Wtp schemes in 2027. These will then also be managed using the Lumera platform.
“We are very pleased with the successful, timely migration of our core pensions administration to Lumera’s platform, and we look forward to continuing working with them to future-proof our enterprise applications,” says José Schenkel, Chair of the Executive Board, PNO Media. “Achieving this milestone is great news for our fund administration and it validates PNO Media’s pledge to make Wtp transition a positive experience for all stakeholders – most importantly our participants and beneficiaries.”
Through the implementation, PNO Media’s IT infrastructure has been adapted and additional applications provided with necessary integrations to the Lumera platform. The migration was enabled through a close collaboration involving the teams of PNO Media, Lumera, the consulting firm Eraneos and other specialist partners. In the subsequent, ongoing phase, the partners continue working together to fully implement both Defined Contribution schemes devised by Wtp: a Solidarity Premium Scheme and a Flexible Premium Scheme (with risk-sharing reserve).
Lumera serves a diverse set of client organisations in the Netherlands pensions market, including self-administrating funds, pension administration organisations (PUOs), APFs and satellite funds. This space is projected for growth following Wtp transition and the expected ensuing consolidation of pension funds.
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