Board

Apart from the daily management of SSPF the Board has a number of specific tasks, such as:

• keeping up to date statutes and regulations
• determining the task area of SSPF and its managers
• adopting outsourcing and communication policy
• adopting annual accounts and the Actuarial and Business Memorandum (ABTN)
• regular consultations with DNB and AFM.

Authority
The Board’s authority to perform its tasks is legally based (the Civil Code and the Pensions Act) and is based on the statutes and regulations of SSPF.

Responsibilities
The Board makes sure that all relevant legal stipulations, rules and agreements are observed. In addition the Board has to ensure that the stipulations of the statutes and regulations are complied with and that the policy is implemented as laid down in the ABTN.

The Board of SSPF comprises 8 board members:

• 4 Board members on behalf of the employer. They are appointed on the recommendation of Shell Petroleum B.V., that is the (in)direct holder of shares of most affiliated companies
• 2 Board members on behalf of the employees. They are appointed on the recommendation of the Shell Nederland Central Staff Council
• 2 Board members on behalf of pension beneficiaries. They are appointed on the recommendation of the representatives of the pension beneficiaries in the accountability body

In fulfilling its role, the Board must ensure that all stakeholders feel represented equally.