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BRIEF-ING finalises deal to make Dutch-defined benefits pension fund financially independent
February 28, 2014 / 7:17 AM / in 4 years

BRIEF-ING finalises deal to make Dutch-defined benefits pension fund financially independent

AMSTERDAM, Feb 28 (Reuters) - ING Groep NV : * Finalises agreement to make Dutch defined benefits pension fund financially independent * Says finalisation of the agreement releases ING from all future financial obligations arising out of this plan * After-tax P&L impact of agreement is about -1.1 billion euros, compared with the estimated - 1.2 billion euros announced on Jan. 9, 2014 * Says decrease is mainly due to changes in interest and equity markets which reduced the value of the net pension asset * Says of this P&L impact, -0.7 billion euros has been attributed to ING Bank and -0.4 billion euros to ING Insurance * Says financial impact will be reflected as a special item in ING Group’s first quarter 2014 results

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