De Nederlandsche Bank (DNB)
The Netherlands National Bank (De Nederlandsche Bank, DNB) ) supervises the Pension Fund. This supervision is laid down in the Netherlands Pensions Act (Pensioenwet) and covers the Constitution, the Regulations, the Pension Fund's Pension Administration Aagreement with the employer, and its financial and actuarial model. The DNB also assesses the suitability (knowledge, skills and professional conduct) of Board members and the Pension Fund's policy makers.
Furthermore, DNB also assesses the implementation of the Actuarial and Operating Memorandum(Actuariële and Bedrijfstechnische Nota), the annual report and accounts and other relevant documents and financial statements of the Pension Fund.
Authority for the Financial Markets (AFM)
The Authority of Financial Markets (Autoriteit Financiële Markten, AFM) supervises the manner in which the Pension Fund communicates with participants, former participants and pension beneficiaries.
The external or certifying actuary is independent of the Pension Fund. He verifies whether the Pension Fund's funding policy meets the requirements laid down in the Pensions Act He assesses every year whether the provision for pension obligations has been set correctly and gives an actuarial opinion on the financial position of the Pension Fund. This opinion summary is published in the Annual Report.
The external auditor is independent of the Pension Fund. He regularly verifies that the Pension Fund's administrative data are in order. After the annual audit of the Pension Fund's accounts he issues an auditor's statement, which is published in the Annual Report.