The board of Stichting Pensioenfonds Staples (SPS) now consists of eight members. Four on behalf of the employer, two on behalf of the employees and two on behalf of the pension beneficiaries. There are no board members on behalf of future pensioners.

Since there is now no employer and works council to nominate directors, the current board wants to change the composition of the board. After all, in order to make valid decisions, directors must first be able to be properly appointed.

Starting points for a new board

Important starting points for the composition of a new board are:

• Ensuring continuity of the board
• Comply with the laws and regulations applicable to the fund.
• Acting in line with the Pension Funds Code 2024
• Focus on the interests of current and future pensioners
• Taking into account the preferences of stakeholders, through the Accountability Body (VO) and the Staples Pension Fund Participants Association (VDPS)
• Ensuring a balanced consideration of interests for participants

Proposed decision - our plan for the board

So the board is going to change, but just as it is now, there will always be eight board members. The plan from now on is to appoint two members on behalf of future pensioners and four members on behalf of current pensioners. What is new is that there will be two independent directors. For each board member other than the independent members, the VDPS will nominate a candidate. In addition, future and current pensioners may also nominate themselves for the board, as long as they are supported by 25 other future pensioners or current pensioners. If there are several suitable candidates, elections follow. The two independent directors are appointed by the other board members.

Continuity of the board

To ensure continuity on the board, it is preferred that current board members return to the adjusted board. For some board members, this means that they will be representing other stakeholders. This is also so for the current members of the Accountability Body (VO).

Proposed decision - our plan for the VO

In addition to the composition of the board, the composition of the VO will also be changed. From now on, this will consist of six members, two of whom will represent future pensioners and four of whom will represent current pensioners. For each VO member, the VDPS will nominate a candidate. In addition, future and current pensioners may also nominate themselves for VO membership. If there are several suitable candidates, elections will follow.

Follow-up steps

Discussions about these changes are being held with the VO, the VDPS and the regulator of SPS, De Nederlandsche Bank (DNB). The VO is positive about the proposed changes. Our governance model will be adjusted if the coordination discussions with the VDPS and DNB also go well.

Become a member of the VDPS

The importance of the VDPS increases with these changes. Therefore, become a member and sign up at retireesbuhrman.com.