Supervision
The independent chairperson and eight non-executive directors make up the non-executive pension board. They supervise the policies implemented by the executive board. The portfolio is divided among the non-executive directors according to their various areas of expertise. The executive pension board is accountable to the non-executive pension board.
The non-executive pension board draws up an annual report of its findings regarding internal supervision. A summary of its findings is included in the fund's annual report. The non-executive pension board also reports to the Accountability Council on the implementation of internal supervision. There is a consultation with the Accountability Council at least once per quarter.
Auditing, certification, compliance and other roles
The annual accounts prepared under the responsibility of the general pension board are audited by the auditor on an annual basis. Steven Spiessens from Ernst & Young Accountants LLP is the auditor. Each year, the fund's certifying actuary checks whether the technical provisions have been established correctly and whether the provisions for pension commitments have been calculated on sufficiently safe principles. Rob Schilder from Willis Towers Watson is the certifying actuary.
The pension board has appointed an Internal Compliance Officer. This officer is in charge of monitoring compliance with the laws and regulations and PME's ethical standards. The Compliance Officer combines their position with that of Privacy Officer. The Privacy Officer monitors compliance with the privacy policy and applicable relevant legislation such as the General Data Protection Regulation (GDPR). PME's Compliance and Privacy Officer is Jurriaan Cornelisse. Under PME's incident and whistleblowing policy, the pension board has appointed Adinda Lammens as External Confidential Advisor.
Lastly, PME has the following key officials:
- Rob Schilder is the key official for actuarial activities
- Trudy van der Kloet is the key official for internal audit activities
- Alae Laghrich is the key official for risk management activities.
External supervision
De Nederlandsche Bank (DNB), the Netherlands Authority for the Financial Markets (AFM) and the Dutch Data Protection Authority (DPA) are our external financial regulators.