A mandate for a flexible pensions plan worth Dfl50m ($26m) has been outsourced by Rank Xerox Nederland to Appeldorn-based insurance company Central Beheer.

Gerard Stevens, Xerox pensions administrator in Amsterdam, told IPE that further negotiations are under way" to determine the future administration of his company's Dfl500m fund when the existing contract with AMEF in Utrecht expires. But he adds that Xerox is taking its time and does not expect to make any long-term decisions "before next year", although he does not rule out diverting some of his investments into international equities."