In its 2014 Annual Report, ING CDC Pensioenfonds looks back on the year that marked the implementation on 1 January 2014 of the CDC pension plan for employees of ING Bank.
During the period under review, the transitional board and the project team worked together to assess e.g. the pension agreement, compile all the relevant fund documents, design communication and asset management policies, and appoint external parties to carry out the administration and the custody of securities. For more information on their accomplishments, please read the foreword.
The fund’s key figures
At year-end 2014, ING CDC Pensioenfonds had 16,869 insured participants and a funding ratio of 122.4%. The fund had completed EUR 250 million in commitments and invested assets worth approximately EUR 303 million. The return on investment amounted to around EUR 38 million. The chapter on key figures presents a summary. See the financial statements for all the details.
Policy and developments
As well as presenting information on the fund’s governance and its overall risk management, the board’s report sets out its policies regarding pension, investments, finances and communication. The section on future developments includes the modified pension plan, which came into effect on 1 January 2015. The modifications have in the mean time been ratified and the fund’s participants have been personally informed about the effects the modifications will have on their pension.
Supervision and accountability
The fund is accountable to the audit committee, which also monitors the board’s governance of the fund. The audit committee’s report and statement, and the board’s response to both of these, are disclosed in the Annual Report.
Organisation and board
Information on the fund’s organisation and its board members and supervisors is presented in the chapters on organisation and board and supervisors. To download the complete Annual Report, click here.
