NETHERLANDS – The €500m Dutch pension scheme of US industrial group General Electric has appointed former scheme director Jan Aerts as the new board secretary from January 1.
Aerts, 62, will replace Jan Boesveld, 75, who will retire at the end of the year.
Boesveld has been a member of the GE pensions board for more than 35 years. He was both secretary and a member of the investment committee.
His responsibilities included looking at investment capital managed by GE Asset Management and ensuring that mandates were followed.
Boesveld also worked for GE for more than 42 years.
Aerts has been on the eight-member board for the last 15 years, and has filled the role of director since 2001.
In April the fund decided to change its pensions administrator from fund manager AZL to Aegon’s TKP Pensioen.
The change will be affective from 1 January 2006.
According to Boesveld, the move was due to dissatisfaction with results.
The GE Pension Fund has more than 5,000 current and former members.