The IORP II has been in force since January 2019. IORP II requires pension funds to set up key functions to support the Board. This involves risk management functions, as well as actuarial and internal audit functions.
On September 30, 2019, Jos Op Heij – the employer representative on PDN's Board – was appointed as the risk management key function holder. The key function holder reports to the Board and the Supervisory Board. The risk management key function holder outsources most of the work to DSM Pension Services (DPS), in line with the existing outsourcing relationship. At DPS, these activities are entrusted to one or more independent people.
Jan Grooten was appointed as the internal audit key function holder with effect from August 13, 2019. However, as the expectation is that it will not be possible to fill this position from within the Board for an extended period (of possibly several years), the Board has decided to engage an external expert, but they will not be a member of the Board. The first point of contact for the internal audit key function holder is PDN's Vice Chairman The internal audit key function holder outsources the performance of his or her duties to an external implementer.
The external certifying actuary is the actuarial key function holder.
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