Dutch social affairs minister Henk Kamp has opened up the road to a truly independent pension fund trustee board instead of trustees being appointed by employers and unions.

In his draft law, the minister also showed he is keen to have the internal supervision carried out by independent people, after he has processed responses to a special internet consultation on his plans.

In July, Kamp already announced new rules with regards to more expertise in trustee boards, better internal supervision and representation of all parties, meaning there trustees representing the pensioners will also be appointed.

Due to instable financial markets, an ageing population and rising longevity, pension funds are operating in an “increasingly complex environment”, Kamp said and there is a bigger need for more expertise in the trustee boards and a greater involvement of employers, employees and pensioners.

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