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Dutch pensions industry seeks talks over cost of regulatory surveys

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The Dutch Pensions Federation has started talks with supervisor De Nederlandsche Bank (DNB) aimed at reducing the burden on the sector from surveys and information demands from the regulator.

The Association of Insurers (VvV) is also to participate in the talks.

Responding to questions from IPE sister publication Pensioen Pro, the industry organisation said the aim was to assess how the watchdog’s surveys could be conducted more efficiently.

“We would like more attention to be paid to pension fund costs when providing the information and whether the importance of surveys justifies these costs,” it said. 

The VvV said it would like to know whether some demands for data could be conducted simultaneously, to prevent having to “dig the road up twice”.

The insurers said that they were waiting for an invitation from DNB to take part in a working group or committee.

The supervisor, however, denied that it would launch a “special survey or committee”, pointing out that it would routinely look at the questions in consultation with the sector.

DNB said it did not expect to address the issue earlier than next spring, during the regular consultations with the sector.

Last year, the Pensions Federation lamented the increasing number of “very time-consuming and labour-intensive” surveys conducted by both DNB and communications watchdog AFM.

It added that it wanted to map out the impact on costs of pensions provision.

Since then, the federation’s members have confirmed that the issue is posing a “real problem”, according to a spokesman for the industry group.

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