On 1 July, Bpf Koopvaardij switched to a different pension administrator, namely from MN to PGGM. A major step, but not much will actually change. To explain the switch, it will first be helpful to tell you a bit more about how the pension fund is structured. The social partners – i.e. the employer and employee organisations together – agree on the pension scheme in the merchant navy sector. For the employers, those organi­sations are the Vereniging Sociaal Maritiem Werkgeversverbond and the Vereniging van Werkgevers in de Handelsvaart. For the employees, it’s Nautilus International. They are required by law to have those arrangements administered by, for example, a pension fund, such as Bpf Koopvaardij. Bpf Koopvaardij's Board decides how the social partners' agreements will be implemented, and the Board is responsible for the relevant policy. It then carefully considers the interests of all the members. Each Board member has their own set of duties. Implementation The Board doesn’t implement all those agree­ments itself; that’s the job of a pension administrator (in the case of Bpf Koopvaardij it was MN). The administrator keeps track, for example, of how much premium an employer has to pay, sends out invoices to employers, handles the administration of members' pension build-up, and keeps track of changes such as divorces, house moves, and deaths. The administrator also initiates payment of pension benefit when a member retires. MN did all that for the pension fund, so until recently you were connected to someone from MN when you phoned the Service Desk. That person knew all about Bpf Koopvaardij's pension scheme and could help you effectively. The Board members don't answer the phone themselves, but you can speak to them in person at members’ meetings, for example. The switch to PGGM On 1 July, Bpf Koopvaardij switched to a different pension administrator, namely PGGM. This is one of the largest pension administrators in the Netherlands. It handles the administration for a number of pension funds, including Zorg & Welzijn, the pension fund for healthcare employees. This switch was necessary so that we are properly prepared for the transition to the new pension rules. Our records were already transferred to PGGM on 1 January 2024. The rest of the transfer took place on 1 July, when the MN employees were taken on by PGGM. For you yourself, nothing will change, because you will still be helped by the same staff as before. Their new PGGM colleagues will of course familiarise them with the work, so the service you get will become even better. And we also expect our costs to be lower in the future.Incidentally, MN was responsible for managing Bpf Koopvaardij’s invested assets, and will remain so. That work has not been transferred to PGGM. ←