NETHERLANDS - The Dutch parliament has scheduled a hearing looking into the country's pension funds' investment policies for 31 March.

The hearing has been called in response to claims aired by current affairs TV programme Zembla on 5 February. 

Zembla had argued that Dutch pension funds have consistently underperformed over the last 20 years, missing out on more than €145bn in unrealised returns.

At the hearing, MPs will hear testimony from experts, who can expect to be "questioned vigorously".

Christian Democrat MP Pieter Omtzigt told IPE's sister publication IPNederland: "Pension fund investment strategy will be the main issue to be discussed, with special attention to the way cost-covering contributions have developed."

Zembla contends that pension funds are short by €799bn due to insufficient contributions and premium restitutions.

Among the experts to testify will be Frits Bosch - the consultant who provided the controversial calculations on which Zembla based its claims.

Also present will be De Nederlandsche Bank director Joanne Kellermann; Jean Frijns, former CIO of civil servant fund ABP; consultant Guus Boender of Ortec; and the Dutch asset managers Robeco and APG.

The pension industry and other interested parties have been invited to provide input before the hearing, Omtzigt said.

He added: "This way, both experts and individuals can express their opinion regarding pension fund investment strategies and related issues, so that we can have a broad public debate."

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