Pension funds involve major interests and substantial sums of money. Hence proper supervision of the course of affairs is extremely important, internally, but also externally. The government pays a lot of attention to proper pension fund management through De Nederlandsche Bank NV and the Netherlands Authority for the Financial Markets. However, the auditor and actuary also play a significant role in terms of external supervision.
De Nederlandsche Bank
Those who pay a monthly sum into a pension scheme expect that the pension fund will pay out a pension when the time comes. Pensioners expect their pensions to be paid out each month, without fail. De Nederlandsche Bank (DNB) supervises financial institutions such as banks, insurers and pensions funds so that you can rest assured that they will fulfil their obligations.
Netherlands Authority for the Financial Markets (AFM)
In addition to the DNB, there is another financial regulator, the Netherlands Authority for Financial Markets. This authority supervises the manner in which financial institutions deal with their customers. Like all other pensions funds, PNO Media must comply with communication obligations set by the AFM. As part of our information provision, we of course try to do more than is required by law as a minimum.
External auditor
The external auditor is responsible for providing an opinion on the annual accounts on the basis of an audit. The auditor assesses the set-up and performance of the management measures taken by the fund insofar these are relevant to the audit of the annual accounts. The auditor submits his findings to the Board by means of a management letter and an audit opinion with the annual accounts.
Certifying and advising actuary
An external certifying actuary appointed by the Board is responsible for the annual assessment of the pension provisions of the fund, the applied actuarial bases and the cost-effective contribution. Based on this assessment, the certifying actuary issues an annual actuarial certificate, including an explanatory report. As a guarantee for his independence, the certifying actuary does not advise PNO Media. In order to obtain advice, the Board uses an external advising actuary. The latter advises the Board on the interpretation of the periodic ALM inspection (as basis for the investment policy) and the Board and the Executive Board when pursuing financing, indexation and pension policies.
Pension funds involve major interests and substantial sums of money. Hence proper supervision of the course of affairs is extremely important, internally, but also externally. The government pays a lot of attention to proper pension fund management through De Nederlandsche Bank NV and the Netherlands Authority for the Financial Markets. However, the auditor and actuary also play a significant role in terms of external supervision.
De Nederlandsche Bank
Those who pay a monthly sum into a pension scheme expect that the pension fund will pay out a pension when the time comes. Pensioners expect their pensions to be paid out each month, without fail. De Nederlandsche Bank (DNB) supervises financial institutions such as banks, insurers and pensions funds so that you can rest assured that they will fulfil their obligations.
Netherlands Authority for the Financial Markets (AFM)
In addition to the DNB, there is another financial regulator, the Netherlands Authority for Financial Markets. This authority supervises the manner in which financial institutions deal with their customers. Like all other pensions funds, PNO Media must comply with communication obligations set by the AFM. As part of our information provision, we of course try to do more than is required by law as a minimum.
External auditor
The external auditor is responsible for providing an opinion on the annual accounts on the basis of an audit. The auditor assesses the set-up and performance of the management measures taken by the fund insofar these are relevant to the audit of the annual accounts. The auditor submits his findings to the Board by means of a management letter and an audit opinion with the annual accounts.
Certifying and advising actuary
An external certifying actuary appointed by the Board is responsible for the annual assessment of the pension provisions of the fund, the applied actuarial bases and the cost-effective contribution. Based on this assessment, the certifying actuary issues an annual actuarial certificate, including an explanatory report. As a guarantee for his independence, the certifying actuary does not advise PNO Media. In order to obtain advice, the Board uses an external advising actuary. The latter advises the Board on the interpretation of the periodic ALM inspection (as basis for the investment policy) and the Board and the Executive Board when pursuing financing, indexation and pension policies.