I work at ING
My pension has started
I worked at ING
The quality of ING CDC Pensioenfonds is kept under close scrutiny by internal and external parties. Within the organisation, the accountability body supervises the managing board, its policies and the implementation of its policies. External supervisors of ING CDC Pensioenfonds are the Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM), as well as the three members of the supervisory committee. Their roles are explained below.
The managing board of ING CDC Pensioenfonds is accountable to its accountability body, whose current members are:
- René Lorrier (chairman)
- Elena Kalthoff-Seferiadis
- Mark Rab
- Jippe Broekhuijsen
René Lorrier and Jippe Broekhuijsen have been appointed to act as representatives of the employer. Elena Kalthoff-Seferiadis and Mark Rab have been appointed to act as representatives of the fund’s participants. The accountability body has agreed that every two years the position of its chairman would alternate between members representing the participants and members representing the employer. René Lorrier has been appointed chairman as a representative of the employer.
In consultation with the accountability body, the managing board determines the fund’s targets and policy principles, including its risk appetite. The accountability body monitors whether the managing board’s policies are appropriate and executed in keeping with relevant agreements and frameworks, while taking into consideration the interests of all stakeholders. The accountability body’s opinion is reported in the fund’s annual report. In addition, the accountability body reviews decisions regarding future policies.
The accountability body provides the managing board with advice on various topics, including:
- The nature and amounts of the components of the actual contribution.
- Signing, amending or terminating an administration agreement.
- The structure and organisation of internal control.
- Communication policies
- Renumeration policies.
- Setting up or changing internal procedures for complaints and disputes.
The managing board provides the accountability body with the information it needs to conduct its supervisory tasks and meets with the accountability body throughout the year.
More information about the rights and remit of the accountability body can be found in the articles of association (Dutch only) of ING CDC Pensioenfonds.
If you have any questions, remarks or tips, please send the accountability body an email at email@example.com
The supervisory committee supervises the policies set out by the managing board and the general course of affairs of the pension fund. The supervisory committee reviews the governance of ING CDC Pensioenfonds, its policy decisions, the balanced weighing of all stakeholders' interests and the pension fund’s approach to long-term risks. The supervisory committee also advises the managing board.
The supervisory committee's powers include reporting any malfunctioning of the managing board to the supervisory board, the parties nominating the managing board members and the Dutch central bank (DNB), as the case may be. The committee is also authorised to suspend or dismiss managing board members in the event of their malfunctioning and to prevent the proposed appointment of a managing board member if the candidate does not meet the required profile.
The supervisory committee reports its findings to the supervisory board. The supervisory committee also consults with the managing board, the accountant and the actuary. ING CDC Pensioenfonds publishes the supervisory committee's opinion in the pension fund's annual report.
The supervisory committee is an organ within the pension fund. Unlike the members of the managing board and the supervisory board, the members of the supervisory committee have no connections with ING CDC Pensioenfonds whatsoever and are not employed by ING.
The supervisory committee comprises the following three independent experts:
- Irene Vermeeren (chairman)
- Erwin Capitain
- Pim Baljet
If you have any questions or comments about the supervisory committee, an email: firstname.lastname@example.org.
For more information on the duties and powers of the supervisory committee, please see articles of association (Dutch only) of incorporation of ING CDC Pensioenfonds.
You can read the vision of the supervisory committee here (Dutch only).
The Dutch Central Bank (DNB)
The Dutch Central Bank (DNB) supervises financial institutions, and as such monitors whether pension funds comply with the Pension Act.
Netherlands Authority for the Financial Markets (AFM)
People must be able to trust the pension sector and make well-informed pension decisions that tie in with their phases in life. The Netherlands Authority for the Financial Markets (AFM) monitors whether the quality of information disclosed to participants of the CDC pension plan complies with the Pension Act, which requires clear, accurate and timely disclosure of information to participants.