MySPIN

General administration

SPIN is governed by the General Board. This board is ultimately responsible for policy, accountability and implementation. There are supervisory and executive members. Both have extensive contact among themselves regarding the activities of the fund. The supervisory members consist of:

  • Three board members appointed by nomination from IBM (A)
  • One board member appointed upon nomination by the COR of IBM (B)
  • One board member appointed on the recommendation of the OR of Kyndryl (B)
  • A board member appointed on the nomination of the pensioners (B)
  • An independent chair appointed by the supervisory members.

Members A and B appoint the executive board members. Together, they form the Executive Board of SPIN (C). They are responsible for implementation and are controlled by the supervisory members.

Internal Supervision

The supervisory board members are internal supervisors of the Executive Board. There is a division of labor among Directors A and B for the various policy topics and supervisory duties. From their supervisory duties, they assess the Daily Board. On a quarterly and interim basis, the Executive Board reports on the policy implemented. The Dutch Central Bank investigates in advance and in the event of changes whether the Board members are reliable and suitable.

Please also read our most recent Internal Oversight Report.

Eligibility

Regulations require pension fund directors to have enough knowledge and experience to manage the fund. The Dutch Central Bank tests them on this when they want to be on the board. There are three suitability levels: level A is basic expertise in the field of knowledge, insight and judgment. Level B is a deepening of Level A. The director at Level B-plus has demonstrable expertise in one or more areas of responsibility in addition to Level B. All board members have Level B in multiple areas of expertise. Two directors have Level B-plus.

Areas of expertise relate to laws and regulations, pension regulations and types, organizational governance, actuarial aspects of pension and asset management, administrative organization and internal control, outsourcing and communication.

The General Board evaluates its performance annually. The board members are also accountable for this to the Accountability Body.