APF Pension Fund is the pension fund for employees and former employees of AkzoNobel or Nouryon. The mission of the fund is as follows: to administer the pension scheme as agreed by the employer and trade organisations after the Board’s assessment of its financial feasibility and practicability.

To be in a position to implements its mission, APF Pension Fund focuses on maintaining a healthy financial position, the balanced consideration of interests, the achievement of the best investment result possible at acceptable risk levels, the adoption of a cost-efficient and risk-aware approach and organisation, socially responsible implementation and clear communication. These tasks have been conferred on a number of different bodies: Board, Committees, Accountability body and Supervisory Board.

Mission, vision, strategy

Board of APF Pension Fund
The pension fund is managed by the Board, which is also responsible for administering the pension scheme. The pension fund board consists of the following members:

On behalf of the employers On behalf of the employees On behalf of retirees
Gerrit Willem Gramser Dick Luijckx (deputy chair) Han Jalink (chair)
Bart Kaster (treasurer) Aldert Boonen  
  Donald Schut  

The following committees are in place in the pension fund:

  • Investment committee
    The investment committee advises the Board on investment policy, being both general investment policy and more specific matters. The investment committee also issues the asset manager with guidelines on the investment of the monies available and management of the fund’s assets.
  • Communication committee
    This committee prepares communication policy and guides the implementation of policy by the implementing body.
  • Pension committee
    This committee is responsible for all matters relating to the outsourcing of the pension administration and any policy issues that arise in relation to the pension scheme. It is also responsible for managing and rendering account on some operational risks.
  • Audit committee
    This committee is responsible for the audit function, which includes auditing primary and secondary activities.
  • Risk management committee
    This committee is responsible for the second line of defence. It is also responsible for the overall IRM cycle, in terms of structure, existence, implementation and compliance. This committee advises the Board on risk management.

Accountability Body
The Accountability Body is also part of the organisation of the APF Pension Fund.

Accountability Body

Supervisory Board
The Supervisory Board monitors the policy pursued by the Board and the general course of events in the pension fund. Amongst other things, the Supervisory Board ensures that risk management is satisfactory and that the Board adopts a balanced approach to its consideration of interests.

The Supervisory Board also has a number of rights of approval - in relation to the adoption of the annual report, the annual accounts and compensation policy, for example. The Supervisory Board consists of 3 independent members. They do not have any connections with APF Pension Fund other than their membership of the Supervisory Board:

  • Dominique Dijkhuis
  • Dirk Jan Smit
  • Erik Voorhoeve

Remuneration policy
We closely monitor the remuneration levels of board members, the accountability body, the supervisory board and the staff of the executive office. And we ensure our outsourcing parties adopt a controlled remuneration structure. You can read more about this in our remuneration policy.

Remuneration policy (pdf)

The pension fund board is responsible for administering the pension scheme. Operational implementation of the pension administration and asset management has been outsourced to Achmea Pensioenservices and Achmea Investment Management respectively. Strategic property consultancy and portfolio management have been placed with Sweco Capital Consultants and socially responsible investment services with BMO.

The Executive Office supports the Board and coordinates and monitors all of the activities that have been outsourced.