NETHERLANDS - CFO Dick Sluimers has been appointed executive board chairman of the €201bn stichting pensioen fonds ABP.
The position was left vacant following the tragic death of John Neervens last month. He had spent 12 years in the role.
In a release today, the ABP said the internal promotion of Sluimers to board chairman would assist in the continuity of rule.
In earlier news, the fund announced an 11.5% improvement on its coverage ratio, which allowed the board to introduce a 2.82% rise in pensions to be paid out in 2007.
The ratio between assets and liabilities increased from 119.7% in 2005 to 131.2% on 1 November 2006. This will allow the €201bn fund to pay out 2.82% as indexation, that is 77% of contractual wage growth.
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