The pension industry is going through turbulent times and they are not likely to change any time soon. Van Doorne is the partner of pension funds and administration organisations during complex pension issues.
New pension contract
Cover ratios are rising but are still under pressure. After all, interest rates remain low. The market and public opinion closely follow the sector’s governance and results. The same goes for DNB [De Nederlandsche Bank]. Things are unlikely to change in the next few years, especially now that a new pension contract (‘2020’) is imminent during this government's term of office.
Complex pension issue
Pension issues are complex matters. Directors' and officers' liability is currently a relevant issue in the pension sector too. Now more than ever, it is essential to make transparent agreements, to have strong wording and to allocate responsibilities in a clear manner. We do not only look at pension law, but at all legal areas that are relevant to the pension sector. This increases our focus. Thanks to our years of experience and extensive legal expertise, we know exactly what goes on in the sector.
We mainly work for pension funds and administration organisations but also for insurers, asset managers and insurance consultants. Whether it concerns transactions such as group transfer payments and winding-up processes, mergers and divisions of pension administrators, administration agreements and outsourcing or disputes such as proceedings about the interpretation of administration agreements, the allocation of responsibilities among funds and social partners, disputes with the supervisory bodies - DNB and the Netherlands Authority for the Financial Markets [Autoriteit Financiële Markten (AFM)] - our team combines expertise and knowledge. Pragmatism is the key factor in achieving the best result together.
If you have any questions or would like to receive more information on our approach to issues in the financial sector, please contact Friso Foppes.