> IN THE ENGINE ROOM
The board as the captain of the pension fund
Anne Vermeulen, Chantal Boekkooi and Guido Hollaar
How does Bpf Koopvaardij actually work? To find out, we take you for a look into the engine room of the fund. Three members of the board explain what they do.
Anne Vermeulen, Chantal Boekkooi and Guido Hollaar sit on the board of Bpf Koopvaardij. Each board member has his or her own area of focus, a portfolio. Anne, Chantal and Guido are responsible for communications and pensions. They sit on the board on behalf of different groups: Anne on behalf of active seafarers, Chantal on behalf of pensioners and Guido on behalf of employers. How did you join the board?
Anne: I was nominated by Nautilus. I had heard fantastic stories about the sector through word of mouth, so that really appealed to me.
Guido: I worked at the Royal Association of Netherlands Shipowners (KVNR) for a long time. There, I used to deal with seafarer labour issues. When a vacancy arose on the board, I was nominated by the Association of Commercial Shipping Employers (Vereniging van Werkgevers in de Handelsvaart).
Chantal: I work at the Heineken Pension Fund and also sit on the board of the Hydraulic Engineering Pension Fund (Pensioenfonds voor de Waterbouw). For that, I was nominated by Nautilus. Nautilus has close contacts with the Maritime Platform for Pensioners. They nominated me for the position at Bpf Koopvaardij. Guido: Before we were appointed, the Dutch Central Bank reviewed our knowledge and experience and approved our appointment. Can you remain on the board for as long as you want?
Anne: No, basically you are appointed for four years. That can be extended for another four years. That is the standard arrangement. It can be extended for yet another four years if there is reason to do so. Guido: That was introduced recently. When I was first appointed in 2016, it was three more four-year terms. I am now in my final term. In that case, you have to explain to the Dutch Central Bank why you want an additional term. In my case, it has to do with my background; I know the employers in the industry well.
“We set the course. The crew performs the work”
Anne
”We ask the members: what do you think is important?”
Chantal
What does your work entail?
Chantal: Our work is both strategic and operational. We determine the communication strategy and perform practical tasks, such as reviewing texts for the website and Op Koers. We contribute to pension policy and handle complaints, among other things. Of course, it is never pleasant to receive complaints, but we do want to hear them. After all, they let us know that something is not right and enable us to do something about it.
Anne: You can compare it with a ship. We set the course, while the crew performs the work.
Guido: We as captain ensure that PGGM, our pension administrator, implements the pension scheme properly. We make sure that people receive their pensions on time, that the amount is correct and that the contributions are collected. Do you take your own stakeholders into account in this regard?
Anne: We are here on behalf of a specific group, but as the board, we are responsible for the well-being of all members. When we have a discussion, I may look at things more from the perspective of employees, but ultimately we make decisions in the best interests of every member.
Guido: Together, we ensure that the pension scheme is administered in the best possible way, for all members of the fund. Of course, we all have our own expertise, but we manage the fund as a team.
Chantal: That also makes it so much fun. When we communicate with members, we look very carefully at everyone's interests. We try to adapt our communication for each target group so that it is relevant to everyone. We also ask the members: what do you think is important? What do you want to hear from us? How do members benefit from your work?
Chantal: They receive a lot of information from us. We inform them about the status of their pension. We put ourselves in the recipient's shoes and think: what would I want to know about pensions myself?
Guido: The fund is there for the sector. For people accumulating pensions, for pensioners and for employers. For some their pension still seems rather abstract. That varies depending on their phase of life. But people still hope their pensions will be well managed. That's what we're here for.
You see a lot of people at member meetings. What do you notice about the contacts you have there?
Chantal: Within the merchant navy sector people tend to be quite involved. We notice this during member meetings. They are interested and have great confidence in the fund, but often want reassurance.
Anne: I notice that this fund really has committed stakeholders and good contact with the members. Lines of communication are short, also between members and the employer and employee organisations. Social partners as we call them.
Guido: People are interested. They are seafarers; curious people who travel all over the world. They want to know the ins and outs. Informative meetings give rise to interesting discussions. Why does the fund do what it does? Could it be done differently? That makes it really enjoyable to stand in front of an audience like that. New pension rules are coming. Are you focusing on that?
Chantal: Certainly, that’s something we spend a lot of time on. We explain a lot to members. Always tailored to the target group, of course. For pensioners, different things are changing than for people who are still building up their pensions. For example, we inform pensioners about the solidarity reserve. That is the buffer to absorb disappointing investments. Someone in their 20s, who is just starting to build up a pension, still has time to make up for a setback.
Anne: Then, of course, there are the pension rules that are currently in place. Although we are busy with the opening of the new store, we must continue to operate the current store as usual.
Chantal: We realise that people ultimately want to know what the transition means in euros. We can estimate that just before the transition.
Guido: Negative reports about the new pension system regularly appear in the media. This often causes anxiety among people, even though the reports are not always accurate. On the date of transition, the funding ratio will be very important. As the fund currently stands, there is scope to increase pensions during the transition. This is because we do not need to have such large buffers. ←
“Before we were appointed, the Dutch Central Bank reviewed our knowledge and experience and approved our appointment”
Guido
Would you like to contact the board of Bpf Koopvaardij?
You can do so by calling +31 88 - 007 98 99 or using the contact form at www.koopvaardij.nl/en/contact.