Peter Borgdorff of the Dutch healthcare pension fund PFZW on drums, John Spruijt of metalworkers scheme PMT on bass, Peter Krul of Railway Pension Fund manager SPF Beheer on guitar and Steeph Custers of the construction workers’ scheme on violin.

Last week, the Dutch pensions industry proved its musical bona fides with a performance of its very own band, The Defined Benefits.

The Defined Benefits played at a fundraiser dedicated to “pensions, music and art” for Alzheimer Netherlands, organised by Antje Biber (Feri), Else Bos (PGGM), Peter Borgdorff, Erik Martens (AGH) and IPE sister publication Pensioen Pro.

The Defined Benefits

In addition to Borgdorff, Spruijt and Krul, the band consisted of John Kostermans of custodian Kas Bank (guitar), Martens of AGH (vocals), Mariska van der Westen of Pensioen Pro (backing vocals) and Spruijt’s partner Silvia van Dam (vocals), as well as the members of gypsy jazz Trio Spagaat: Steeph Custers, Leen de Heer (saxophone) and Jan Hagens (accordion).

Peter Borgdorff

Last but not least, the band included Annelies, Dolly and Milly van Markwijk, widow and daughters of John van Markwijk, musician and CIO of metalworkers scheme PME, whose sudden death in 2013 shocked the pensions industry.

The band dedicated two songs to him, performed by his surviving wife and daughters.

At the event, Feri’s Antje Biber explained to the guests how art and institutional investments had many things in common: both rely on careful composition and both are subject to rules and regulations.

“The challenge is to be creative within the framework of rules,” she told her audience.

She proceeded to set the right example by performing Bach on the flute, accompanied by Pieter Westland of Blue Sky Group on harpsichord.

Delegates then were directed to a room full of easels and paint brushes to try their hand at painting.

Albert Akkerman

Participants were encouraged to buy back their own paintings at “fair value”, raising funds for Alzheimer’s research.

Judging from the calls for an encore, it seems quite likely The Defined Benefits will reassemble at some point.

To be continued!