The DSM Pension Services mission is to create maximum added value for our pension fund clients and their members with respect to pensions and investments. This mission takes strategic shape through acting as a policy and expertise center with respect to pension management, asset management, and risk management, and implementing pension and asset management and associated administrative activities with integrity and in a client-oriented, professional, efficient, and transparent way.
“We offer a full service and see it as our task to cover all our clients’ requirements across the full width of the pension spectrum.”
- Willy Bours, Manager Pensions & Communication
DSM Pension Services is a professional organization with a total focus on advising and facilitating pension funds as well as offering a full service package to pension funds. DSM Pension Services supports pension funds in realizing their long-term strategic and operational objectives and also delivers added value in all pension-related topics arising from demand from underlying sponsor companies. The services of DSM Pension Services relate to all elements that are important for establishing, administering, and managing a pension scheme from the pension fund’s perspective, as well as the sponsor company.
DSM Pension Services offers all operational services and strategic advice based on a multidisciplinary approach. DSM Pension Services pursues operational excellence and its strategic advice is shaped within an easy to implement and integrated total solution.
DSM Pension Services is a strategic partner for the pension funds. This means that, from a basic, non-commercially driven perspective, DSM Pension Services pursues the same long-term interests as the pension fund Boards. This contributes to a low cost base and ensures that we always act in the interests of our pension fund clients.
DSM Pension Services has existed in its current form since 2003. However, our history goes back much longer. DSM Pension Services originates from the DSM Pension and Insurance Company, established in the 1960s to manage the pensions and investments of Stichting Pensioenfonds DSM Chemie.
Over the past 20 years, DSM Pension Services has manifested itself as an independent and autonomous financial institution. Our professional drive as a pension administrator and asset management firm has resulted in a strong growth by onboarding Stichting Pensioenfonds Gist Brocades, once one of the first Dutch pension funds, followed by the affiliations of Stichting Pensioenfonds SABIC and later Stichting Pensioenfonds SABIC Innovative Plastics.
DSM Pension Services manages around €12 billion in assets and performs pension administration for around 45,000 participants.
DSM Pension Services is regulated by the Dutch Authority for the Financial Markets. DSM Pension Services is licensed for asset management, investment advice, and the submission of orders for professional investors.
With approximately 70 employees, DSM Pension Services is a medium-sized pension administrator in the Netherlands. We follow the adage 'as small as possible, as big as necessary'. This allows us to offer continuity and economies of scale, but we remain small enough to provide customized services offering our clients the highest possible quality. Our organizational structure has short lines of communication, enabling us to offer our services in a decisive and customer-oriented manner.
DSM Pension Services is an investment company with a two-person Board. This Board determines the strategy and policy. The Board also controls the finances and the implementation of services. Daily management is handled by the Management Team, of which the Board forms part.
DPS is a 100% subsidiary of Royal DSM NV and is bound by the DSM Corporate Requirements. The Board of Directors of Royal DSM NV constitutes the General Meeting of Shareholders (AGM) of DPS. Approval of the AGM is required for statutory matters and strategic decisions.
The AGM has delegated approval of tactical matters to DSM NV's Executive Vice President DSM Corporate Human Resource (CHR). Submission of matters to the AGM is made through the CHR, where required by DSM Corporate Requirements, with advice from other corporate staffs such as Corporate Finance and Economics (CFE).
The Executive Board, supported by the Management Team leads DPS. The Executive Board is ultimately responsible for the adequate management of all risks, both strategic and operational. The line management ensures that the administrative organization of DPS meets the requirements set by external laws and regulations. With regard to compliance with the management measures, processes and procedures, line management is responsible.
Risk management is the systematic application of management guidelines and procedures in identifying, analyzing, evaluating, controlling and communicating risks. Also, risk management includes the process of assessing and reducing risks to acceptable levels in line with the prevailing risk attitude, and risk management is involved in implementing appropriate management measures to maintain this risk attitude. Achieving DPS's strategic objectives depends heavily on managing the risks and uncertainties inherent in DPS's environment. This therefore means that for the realization of the strategic and operational objectives, risk management plays a prominent role.
The management of DPS is responsible for managing the risks within the organization and to this end has developed and implemented an Enterprise Risk Management (ERM) model. This ERM model provides an effective means of improving the functioning of the internal organization and processes and provides a stable foundation for making policy decisions. The model should ensure that insight is gained into the extent to which the strategic objectives and operational goals of DPS are realized, that the reports provided by the company are reliable and that relevant laws and regulations are complied with. DPS places a high priority on risk management. In the context of risk and control, a model based on the COSO model is used. DPS is frequently faced with managing risks. These include both financial and operational risks. Through the implemented risk management system, DPS wants to achieve that risks are systematically identified and analyzed and, where possible and applicable, management measures are taken to mitigate the risks.
Periodically, DPS conducts a Business Risk Assessment (BRA) and SIRA identifying all prevailing risks. The results of the BRA are used as the basis for ICLAAP. DPS monitors that capital requirements are met at all times. The equity of DPS is more than sufficient to meet the statutory requirements.
DSM Pension Services BV | CoC number 14075466 | AFM license 14001544