mast image

Special Report

Impact investing

Sections

Dutch driving licence office hit by pension crisis

NETHERLANDS - Some €12m in pension contributions have disappeared from the Dutch Central Driving License Office, the CBR, according to reports.

The management of the CBR has stated that total volume is still unclear, but action will be taken. De Telegraaf newspaper has published that more than €12m has gone.

According to unnamed sources, the CBR has not paid pension contributions for years. In a move to quell the crisis, the Board of Supervision of the CBR has already set up an in-depth assessment of the situation.

Trade unions such as FNV Bondgenoten, De Unie and MHP, in cooperation with the works council, have decided to contract three independent pension consultants to research the issue.

The CBR board until now refuses to state that there has been a case of fraud.

Eric van Amerongen, chairman of the CBR's supervisory board, has told the press that there is a total breakdown of the accounting system at present, largely caused by the sudden death of head of the accounts department.

Until now, the CBR has seen the issue as a purely technical problem without the pension money really lost.

But the unions have stated that they expect that the company has not paid contributions of its 1,200 employees for years.

The pension fund insurer, Nationale Nederlanden, until now has not given any reaction.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

Begin Your Search Here
<