The Nike Pension Fund operates Nike Pension Plan in the Netherlands. The pension fund ensures that employees, former employees and pensioners receive the pension they are entitled to from Nike.
The Nike Pension Fund is an independent foundation, distinct from the employer, with its own Executive Board (The Pension Board) and its own policies. Naturally, there is close collaboration with the employer. The members of the Pension Board are assessed on their specific knowledge and expertise, which means they can perform their tasks well. The Chairman and Secretary are responsible for the day-to-day management of the Nike Pension Fund. Alongside the Board, the pension fund also has an investment committee, an accountability body, a review committee, an external actuary and accountant, and its own administration provider.
The Pension Board of the Nike Pension Fund consists of four members: two employer representatives and two member representatives. The Pension Board is therefore composed of a representative cross-section of all stakeholders. Board members serve a four-year term. Members can be reappointed. The Board meets around seven times per year.
(nominated by the company)
(nominated by the employees)
The accountability body assesses the Pension Board's actions, the policy implemented and future policy choices. In addition, the accountability body has the right to 'prior consultation' in a number of areas.
The investment committee advises the Pension Board on the investment policy that is implemented by the asset manager. At the instruction of the Pension Board, the investment committee has compiled an investment policy plan with guidelines for asset management. The investment committee receives advice from an external investment specialist.
The internal monitoring function evaluates whether the Pension Board is correctly adhering to procedures and reaching its decisions with due care. This includes checks on whether risk management is satisfactory and whether any conflict of interest exists within the Pension Board. Each year, a review committee is formed to carry out the internal monitoring and examines one aspect in greater detail. The review committee reports on its findings to the Pension Board. This committee consists of three external experts; their powers are laid down in the articles of association.
De Nederlandsche Bank (DNB) supervises all Dutch pension funds. This is laid down in the Dutch Pensions Act (Pensioenwet). DNB primarily examines the financial design (and therefore the policy funding ratio) of the pension fund, but it also examines the expertise and integrity of the Pension Board Members. By carrying out careful monitoring, DNB reduces the risk that the pension fund will not comply with its obligations.
The Netherlands Authority for the Financial Markets (AFM) also supervises all pension funds in the Netherlands. The AFM pays closer attention to the conduct of pension providers, to compliance with the laws and regulations, and to the information provided by pension funds. This is necessary to protect you as a member of a pension fund. It also helps to ensure that you have a choice in relation to your pension.
The Pension Board of the Nike Pension Fund outsourced the daily asset management operations and other activities to a number of pension providers. Although the Pension Board does not perform all activities itself, it remains responsible for the correct execution of the outsourced tasks.
The asset manager is NNIP.
Mercer Investment Consulting provides the investment advice and balance risk management.
Mercer Pension Consulting is the auditor of the fund.
KPMG is the accountant for the fund.
Buck supports the fund by performing the pension administration.
Nike Pension Fund “in Liquidation”
P/a Nike European Operations
1213 NL Hilversum
T 035 – 6266777
As per 1 January 2019 ABN AMRO Pensioenen is the new provider of your pension plan. For questions related to your personal pension please contact ABN AMRO Pensioenen
ABN AMRO Pensioenen
Postbus 283 (PAC AA6341)
1000 EA Amsterdam
T 020 – 6285131