NETHERLANDS - Marcellino Kropman is to take over from Dick Wenting as director of the €776m Dutch Pension Fund for Pharmacists’ Employees, or PMA.

Wenting, 61, will take early retirement as of September 1 after heading the industry-wide scheme for 25 years. A specialist on asset liability management, he started his career as an actuarial consultant.

At present PMA has 20,000 active members with a coverage ratio of more than 160%, based on the fixed accounting rate of 4%, Wenting said.

He stressed he will remain active within the pensions industry. He is a board member of the company fund of Xerox and an adviser to the staff pension fund of the professional society of pharmacists.

Wenting will also keep his functions as member of advisory committees of the European Pension Fund Investment Forum and Robeco Institutional Fixed Income Funds, and as a coordinator of several committees within the Dutch Society of Investment Analysts, he added.

Kropman, 46, joined PMA as of June 1, after three years as an interim manager. He was previously a deputy director of life insurance at insurer Unive. He has worked on collective pensions at insurer Interpolis as well.