The Netherlands’ second largest pension fund, the Dfl110bn (e50bn) PGGM scheme, has signed a letter of intent on collaboration with the board of the Fl25bn (e11bn) Dutch Doctors’ Pension Funds (Artsenpensioenfondsen).
The General Practitioners’ Pension Fund (SPH) and the Medical Specialists’ Pension Fund (SPMS), which are run by the Foundation for the Joint Management and Administration of Doctors’ Occupational Pension Funds (SBA), will set up a joint company with PGGM to provide pension-related services for doctors and specialists. PGGM will take 51% of its shares and the doctors’ funds will have 49%.
The present SBA will be placed in the joint company and its current managing director A P van der Kooi, will be responsible for day-to-day policy as the director of the joint company.
The Doctor’s Pension Funds will continue to be responsible for pensions and investment policies and their implementation; the existing relationship between the participants and their pension fund will not change.