“The interesting thing about pensions is that every time you think that everything is done and settled, new legislation sees the light which requires you to make substantial adjustments.” Edwin de Jong (almost 56) about his appointment as a board member of Pensioenfonds PGB. He is enthusiastic about the fact that in the coming years he will be able to experience the introduction of the new pension at close hand.
Until recently, Edwin de Jong was director of the Pensioenfonds PGB’s administrative office. His accession to the board coincides with a change in the management of the pension fund. Amongst other things, a number of tasks of the administrative office have been transferred to our own implementation organisation PGB Pensioendiensten.
See box below for an explanation of the administrative changes.
Edwin de Jong has been nominated by the PGB employer council and will succeed Bert Coenradie on the board, who will be stepping down this month. “Like Bert, I will be focusing on the affilliations”, says Edwin de Jong. This is an area in which he, as an actuary and former consultant at Willis Tower Watson, is very much at home. He will be chair of the Pension management committee, which deals with pension products and services and relationship management, among other things.
In this committee, he will have the opportunity to contribute ideas towards innovation at the pension fund, for example in the field of services and products. That, too, appeals to him. “PGB was the first pension fund to ensure that participants in a defined contribution scheme could receive a stable payment after retirement, with the possibility of sharing in the investment returns. This has now been adopted by others. I think this is a great development. And a compliment for the creativity of this pension fund.”
Edwin de Jong started in the eighties as an actuarial calculator at the insurance company Onderlinge 's Gravenhage, and in the early nineties he joined the consultancy Towers Perrin, one of the predecessors of the current Willis Towers Watson.
|Board pocedure slightly adjusted|
Pensioenfonds PGB’s board is composed of representatives of the parties involved: employers, employees and pensioners. This will remain the case. However, it will be possible to appoint two of the ten board members on the basis of their specific expertise. Board members will no longer have portfolios but will deploy their expertise through committees.
To be able to respond to changes more easily, the number of committees is limited to four. These committees advise the board on policy and can also be allowed by the board to make their own decisions on policy implementation. The board focuses on the big picture: the policy and strategy of the pension fund.