Jaarbericht 2016 CONTENTS

The Review committee

The Review Committee monitors the Board and assesses its performance. The Committee consists of three independent experts.

The overall opinion from the Review Committee is extremely positive, having concluded that the Board is in control.

In its review of 2016, the Committee has observed how SPF's Board takes up its responsibilities for all stakeholders, commenting on how the Board as a whole acts in accordance with the interests of all members, both past and present, as well as its retirees.

The Review Committee believes that the Board is performing effectively and has a high level of expertise. The fund is well organized and structured and is always looking for ways to make improvements. The Review Committee has also praised the Board's swift approach to incorporating the recommendations made by the Review Committee for 2015. It also believes that the Board's failure to realize its ambition should be given particular attention in the future.

A legislative proposal is currently being discussed in which the internal supervision of SPF would no longer be the responsibility of a review committee but of a supervisory board. These developments are being closely monitored by the Board, the Accountability Council, and the Review Committee.

An extract from the Review Committee's report and the response from the Board to this report can be viewed in SPF’s annual report.