Elections Accountability Body

Wanted: an active member with a sense of engagement

If you are an employee and would like to be involved with Philips Pensioenfonds, perhaps you might be interested in a role on the Accountability Body. The Accountability Body is made up of six members: one member to represent the active members, four to represent the pension beneficiaries and one to represent the employers. Deputy members also stand ready to replace the representatives of the active members and the employers. The Accountability Body performs annual reviews of the Pension Fund’s policies and has the right to express an opinion on certain matters. If this sounds interesting to you, find out more about what the Accountability Body does and what the preferred member profile is. If you match the profile, you can sign up for the elections to choose a new employee representative on the Accountability Body.

Board is accountable
The Board of Philips Pensioenfonds regularly takes decisions that affect the (future) incomes of all participants in the Fund. This includes decisions taken by the Board due to the transition to the new pension system. In making these decisions, the Board always considers whether the interests of all participants have been properly taken into account. And the Board must also be able to explain this. We call this ‘accountability’. This is done, among other things, to the Accountability Body.

The Accountability Body has the right to give an opinion on the policy of Philips Pensioenfonds, the way in which it has been implemented and the policy choices made for the future. In addition, the Accountability Body has the right to issue advice on a number of subjects, such as the form and structure of internal supervision and the communication policy. The Board ensures that the Accountability Body receives all the information it needs for these tasks.

Who is the Accountability Body looking for?
The Accountability Body is looking for a new member to represent our active members. Are you that person? At a minimum, you need to be interested in pensions and investments, and have the time and motivation to learn more about those topics. You will be given possibilities to acquaint yourself with them through training. Prior experience with governance-related duties is welcome. We prefer the Accountability Body to have a diverse composition, and this is in fact required by law: specifically in the ‘Dutch Pension Fund Code’. To encourage greater diversity on the Accountability Body, we urge female members and members below the age of 40 to respond. Finally, it is good-to-know that the working language in the Accountability Body is Dutch.

How can you apply as an individual candidate?
You can apply if you work at Philips or Signify and are building up a pension with Philips Pensioenfonds. You must then meet certain conditions, including submitting a list of at least 50 signatures of Philips Pensioenfonds pensioners who support your application. If you are interested, we advise you to attend our information meeting. We will explain in more detail what is expected of you as a member of the Accountability Body.

Candidates via representative organisations
The trade unions involved in the collective labour agreements of Philips and Signify can also nominate candidates. These trade unions have been informed of this by letter. If you are interested in participating in the elections via an organisation, you can contact one of the trade unions.

Further information about the elections
On this webpage you will find all information about the work of the Accountability Body and the conditions for participating in the elections. This page also includes a detailed profile description and explains how to sign up for the information session on 20 January 2025 where you can ask all of your questions.