Our administrator, DPS

The process for the acquisition of DSM Pension Services (DPS) from DSM to Pensioenfonds DSM Nederland (PDN) is in full swing. As a stakeholder, SPF is certainly very much involved, but we are not one of the acquisition partners. We posed many questions to PDN when they came forward as a buyer of DPS. These questions related to the transaction and the potential impact on SPF. We have analyzed PDN’s answers over the past few weeks and will be discussing our response to these in the coming period. We also anticipate that several additional agreements will need to be made with DPS on top of the Service Level Agreement (SLA) that was signed at the start of this year.  We are still very satisfied with the DPS services and would like these to continue.

The starting point is that we reach agreement with PDN and that they take sufficient account of SPF’s interests. We aim to achieve this in agreement with PDN and with DPS (SLA) via the working group that the SPF Board established for this purpose. PDN is currently drafting the agreement (with DSM), which can be realized subject to approval by several parties (including the Dutch Authority for the Financial Markets [AFM] and DNB).

DPS employees also generally seem very positive about the PDN acquisition, as this provides them with clarity. The new DPS location in Sittard has now also been announced to employees.

We trust that the above keeps you informed and explains our full involvement in the DPS acquisition, although we are not formal partners in that acquisition.