The board has established a policy with regard to the outsourcing of activities. This policy takes into account the provisions of Article 34 of the Pension Act and Chapter 4 of the Pension Act Implementation Decree. The board has outsourced the management support, the pension administration, the investment administration, the activities regarding actuarial calculations and the investment of the assets of the pension fund to external experts.

• Blue Sky Group in Amstelveen provides management support, the implementation of the communication policy and the participant and financial administration.
• The asset management is carried out through the intervention of the fiduciary manager with external asset managers. The custody of the investments, the administration thereof and the risk management is done by Caceis.
• The death and disability risks are partially reinsured at Elips Life AG.
• The board has appointed an accountancy firm (Ernst & Young Accountants LLP). This auditor annually audits the statements for DNB and then the auditor reports on his activities in the form of an auditor's report, a management letter and, if desired, an oral explanation to the board.
  
   

• The board has appointed a certifying actuary (Towers Watson Netherlands B.V. in the person of Mr J Schilder). The certifying actuary assesses annually whether Articles 126 up to and including 140 of the Pensions Act have been complied with. The authenticating actuary reports to the fund board once a year by means of an actuarial report and an actuarial statement. Reporting takes place no later than 1 July of the year following the calendar year to which the report relates.

Because the certifying actuary and the advising actuary both work at Towers Watson Netherlands B.V. the board has verified that Towers Watson Netherlands B.V. has a code of conduct approved by DNB and therefore complies with the provisions of Article 148 of the Pensions Act.