Dutch pension fund ABP shifts governance model

On the 07/08/21 at 5:11PM


Adrien Paredes-Vanheule

The Netherlands’ largest pension scheme ABP has adopted on Thursday a new governance model effective 1 January 2022. The Dutch institutional investor is adapting to become more agile and face new challenges such as the transition towards the future local pension regime shift that will be implemented from 2026 onwards.

Thus, ABP will have a general board composed of executive and non-executive directors as well as of an independent chairman.

The board, in charge of the fund’s strategy and policy, will have three executive directors responsible for its day-to-day management, one chairing the board and ensuring general management while the remaining two will look into pension and investment policies respectively. Under the new governance model, ABP said management positions will therefore disappear.

Supervisory will be ensured by the non-executive board, which will number 12 persons. ABP said it will work on the staff of the new governance model in the coming months, looking in particular for three executive directors. Seats on the non-executive board will normally be filled by the current directors and a number of new directors, the pension fund specified.

ABP managed €499bn in assets as of end March 2021.

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