(Bloomberg) -- ING Groep NV, the biggest Dutch financial-services company, will post a 1.2 billion-euro ($1.6 billion) charge after agreeing to end some payment obligations to its pension fund in the Netherlands.
ING will terminate future funding and indexing obligations to a pension plan that guaranteed payouts for participants, the Amsterdam-based company said in a statement today. The first- quarter charge includes a 400 million-euro payment to the fund, while 800 million euros is related to the removal of the pension assets on INGs balance sheet, it said.
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