The voice of the VO
During the year, the Accountability Body (VO) advises and assesses the Board. What made 2024 different from other years and what was the reason for that? We will discuss this with two members of the Accountability Body: Peter de Haan (Chair) and Tariq van Rooijen.
First of all, it is good to know that the VO comprises nine members: three on behalf of the employees, three on behalf of the pension beneficiaries and three on behalf of the employer. Each and every one of them are employees and pension beneficiaries who, in addition to their jobs or pensions, are committed to looking after the interests of all TNO Pension Fund members. That in itself is quite a challenge, because pensions are a complex matter and now on top of that the new pension system is being introduced. Of course, all VO members participate in an SPO course on pensions, but even then it is sometimes tough.
"The direction of the new pension scheme in 2024 has become much more concrete." Tariq van Rooijen
Peter de Haan
Tariq van Rooijen
Task of the VO
The task of the VO is to assess whether balanced consideration of interests has taken place in decisions and proposed decisions by the Board. In other words, whether the interests of all stakeholders have been taken into account. In addition, the VO has advisory rights on a number of topics (for example, remuneration policy, premium, complaints procedure and so on). Because of the transition to the new pension scheme, the VO even has a weighted advisory right on a number of points. It is a responsible job. People who are further away from the fund scrutinize the decisions made by the Board. The interests of young members, older members, former members and pension beneficiaries are being looked at, and the extent to which it is balanced is being considered.
The opinion of the Accountability Body
The VO, therefore, looks critically at the actions of the Board. You can read the VO's opinion on 2024 on page 95 (in Dutch). Based on that opinion, you can see that 2024 was a dynamic year. The 2024 assessment also considers the interaction between the Board and the VO.
In this Life & Pension, you will get some additional background information from two VO members about the intensive period. A period in which the various interests came into extra focus because of the transition.
"Because of the advice, the high stakes and the time pressure – the plan must be submitted to De Nederlandsche Bank by 1 July – it was more intense and urgent in the last period than previously." Tariq van Rooijen
What made 2024 different: direction is more concrete
The main topic was and is the transition to the new pension system. By 2024, the direction it is going with the new pension scheme has become much more concrete, says VO member Tariq van Rooijen. Tariq has been a member of the VO since 2022 and he really noticed a difference from previous years. "It's a lot more concrete. One example is the details on the compensation for the abolition of the average system and the impact of the funding ratio in the transition to the new pension scheme. What also made 2024 different is that, in 2024, there were more consultations with both the Board and consultations within the VO, precisely because it became more concrete."
Dynamics of the knowledge advantage
"What also stood out in 2024," Peter adds, "is that the pensioners' section was already much more involved in various issues under the hearing rights." The pensioners' association, eTNOs, was permitted to exercise its hearing rights in 2024; as a result, they were already well versed in the subject matter, which gave the VO its own momentum. There was a knowledge advantage, so to speak, among retirees. "Retirees also tend to have just a bit more time to read up and keep a close eye on all of the developments. That's just the way it is. The transition intensified the difference in interests and that played out especially in 2024," Peter indicates.
In addition, there were new VO members from employers who needed to catch up with a great deal of knowledge. "They brought a lot of management skills, which came in handy during the transition phase in 2024”, says Tariq.
“The transition intensified the difference in interests and that played out especially in 2024." Peter de Haan
Difference in interests clearer in 2025
"In the year we are in now, 2025, that gap in knowledge levels has been rectified”, Tariq points out. "What is more apparent now than before is the difference in interests”, he says. "That's not surprising either," Peter adds. "Under normal circumstances, as VO, you give advice. That is often a unanimous opinion or you reach a consensus. For transition, it’s different. The law states that a VO may issue dissenting opinions from the sections." Tariq stresses: "In spring 2025, the VO also had to issue by far its most important advice ever. What comes into play, for example, are the risks relating to purchasing power during the benefit phase. For pensioners, this is something that directly affects that group. In contrast, members are more concerned with pension contributions and things like that."
A tremendously intensive period
Peter explains that 2024 – and also now in 2025 – is an intensive time for the VO: "That's both in the changes that are happening and in how we deal with each other." Tariq agrees: "It's a major operation. Because of the advice, high stakes and time constraints – the plan must be submitted to De Nederlandsche Bank by 1 July – things have been more intense and urgent over the last period than previously. TNO is also very busy preparing for the new strategic period."
"I admire the active participants in the VO who have to balance between their daily work and the VO." Peter de Haan
Making time for VO work
As a VO member, you are given room by your employer for your VO work. In doing so, Tariq makes his own judgements on when to do what. "It has been a very intense period, but there is also something to it. It is important to do a good job on the new pension scheme." Peter points out that it is easier for pensioners, because they have fewer obligations. "I admire the active participants in the VO who have to balance between their daily work and the VO."
Now on to summer
All in all, it is clear that it is an intense time in which the VO also finds itself. What are Peter and Tariq doing to relax and recharge during this intense period in which the VO finds itself?
Peter sings in a mixed classical choir. "There was one thing I definitely wanted to do when I retired six years ago, and that was to sing along with the Matthäus-Passion. So, I joined a choir. Since I joined, I’ve now also sung many other pieces, such as Handel's Messiah and Rossini's Petite Messe Solennelle." Peter was not entirely new to music. "Before I retired, I had never sung, but had played the piano. Way back when there were still staff associations, I also used to play in concerts from time to time."
Tariq has plenty of distractions with his two young children. "It takes energy and gives energy. I also try to make time for athletics and running. Although athletics is a lower priority than before. It's mostly training and occasionally I compete. I may be one of the younger members in VO, but I do notice that, at 45, I am more injury-prone. I run with a club in Wageningen. I also used to run with TNO in the City-Pier-City, but I used to be more of the shorter distances, such as the 400 or 800 metres."
Another VO meeting is scheduled shortly – before this edition of Life & Pension appears. After that, it will be quieter for a while and time to enjoy the summer, after which they will resume at the end of August.