The conclusion of the Supervisory Board

The Supervisory Board appreciates the commitment and dedication with which the board has further shaped the preparations for the transition to a new scheme in accordance with the Future Pensions Act (Wtp) over the past year. Important steps have been taken with the elaboration of the complete decision-making process, the approval of the partial Data Quality assessment, and the submission of the partial Risk Attitude assessment. The final adoption of the Transition Plan by social partners experienced some delay, as a result of which, in consultation with social partners, the transition date was moved to 1 January 2027. In early 2026, the board made a final decision on task acceptance and subsequently submitted the dossier to De Nederlandsche Bank (DNB) for review. In the coming year as well, much of the board's attention will be focused on the assessment process by DNB, the implementation at the provider DPS, and communication to (former) participants and pensioners.

In addition to all the attention paid to the Wtp, the board focused on developments at SABIC, the planned SWOT analysis regarding the pension fund itself, and cybersecurity. The Supervisory Board once again notes that decision-making is carried out carefully and that the various interests are balanced evenly.

In this context, the Supervisory Board requests attention for 2026 for the following:

1. The Supervisory Board recommends that the board develop a vision on the future of the pension fund and the governance model used, partly in light of developments at the sponsor SABIC. The Supervisory Board advises the board to prioritize the management of transition risks and operational readiness in the coming period. In doing so, the board must ensure sufficient assurance, among other things through the deployment of targeted (internal) audits on the most critical parts.
2. The Supervisory Board advises maintaining continuous attention for sufficient capacity at DPS.
3. Given the important role of the key functions in the Wtp process, the Supervisory Board recommends paying attention to the deployment of the Internal Audit Key Function in the Wtp process.
4. The Supervisory Board recommends that the board explicitly pay attention in the coming period to carefully formulating, executing, monitoring, and, if necessary, adjusting the communication policy, both as part of the implementation plan and in the period after the transition.

The full text of the findings and recommendations of the Supervisory Board and the SPF board's response to them can be found in the full annual report on the website of SPF under Downloads.