NETHERLANDS - Peter Borgdorff will leave the association of industry wide pension funds (Vereniging van Bedrijfstakpensioenfondsen VB) to join PGGM as executive office director.
Borgdorff, who will join PGGM on 1 December 2007, has been director of VB since 2002.
PGGM said it was planning to split on 1 January 2008 into a pension fund and an administrative organisation and the task of the executive office will be to support the pension fund executive.
PGGM said the pension fund will own the pension scheme and pension assets for the healthcare and social work sector. The administrative organisation will shortly be mandated by the pension fund to administer the collective pension scheme.
PGGM’s board of governors said Borgdorff has a strong voice in the national pensions debate and is closely involved in social projects.
VB chairmen Benne van Popta and Willem Noordman said: “VB is grateful for the way in which Borgdorff promoted the interests of the members of VB in the past five years. The position of VB as a prominent player in the world of pensions in that period improved.”
The appointment is subject to approval by the Nederlandsche Bank.
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The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.