Meetings, new investment policy, fluctuations on the financial market, and the Future Pensions Act.
We meet again
In 2022, we were able to meet in person again: whether for a meeting around a conference table or just for a chat at a colleague’s desk. Things got back to normal, just as they should be.
Investing for people and planet
We published a new version of our investment policy. We now take the United Nations' Sustainable Development Goals as our starting point. We invest in fixed-income securities of countries that also adhere to these goals. These are mainly bonds and government bonds.
Fluctuations on the financial market
We had the wind in our sails when it came to rising interest rates but we experienced a headwind regarding investments. All in all, we saw a rise in the coverage ratio. A high coverage ratio means a financially sound pension fund.
Communication is still important
Maintaining our strong financial position does not happen by itself. Extensive consultation, open communication, and timely response to developments are vital factors. Communication within the fund, with Dow’s Portfolio Investments, and with external consultants remain important.
Change on the Accountability Body
We were looking for no fewer than three new members to represent pensioners. Most of the votes went to Elly Warmenhoven, Herbert Jonkman, and Willem Vogt. Bart Makkink is a new member representing employees. We said goodbye to Tom Burm and Stan Bosman.
Future Pensions Act
The board, Accountability Body, and Supervisory Board have undertaken training to learn about the new legislation. We are also discussing this with the social partners. We take as usual our role and responsibility as directors of the fund very seriously, in 2023 and beyond. Our excellent financial position is crucial to this.
Ed d’Hooghe
Chair of the DOW Pension Fund Foundation