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ING's Dutch pension fund appoints chief executive from within

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Aldrik Venemans is to take the helm at the €25bn Pensioenfonds ING, succeeding Jos van Kleef, who has been in the job on a temporary basis since January.

Venemans has been working at the ING scheme’s pensions bureau since 2011 as a financial risk manager and an investment strategist.

He participated in negotiations over the pension fund’s financial independence from ING in 2014, and was the driving force behind the resulting plan for balance management.

Last year, the scheme closed to new entrants.

Pensions accrual is now taking place in a new ING collective defined contribution Pensioenfonds.

Prior to joining ING in 2011, Venemans held actuarial positions at consultancy Mercer and PVF Achmea, one of the predecessors of pensions provider Syntrus Achmea.

The Pensioenfonds ING has seen several changes in leadership since the departure of Daan Heijting in 2013, who, after five years at the helm, left for Timeos, provider for the €20bn pension fund PGB.

Heijting was succeeded by Albert Smolenaers, who acted as interim chief executive for 10 months.

His successor, Corné van Nijhuis, left after just eight months for unknown reasons.

In a statement, Rients Prins, chairman at the pension fund, said the board had sought a chief executive with expertise in pensions, as well as knowledge of the ING scheme.

He added that the board had looked for a candidate who enjoyed “support” within the ING scheme.

As of the end of August, the Pensioenfonds ING’s funding stood at 139%.

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