On 13 December 2007 the Council of Participants held its final meeting to make recommendations to the Pensioenfonds Horeca & Catering governing board regarding proposed board decisions. At 1 January 2008 the duties and powers of the council of participants were transferred to the board of stakeholders.
Alongside the customary duties and powers of a board of stakeholders, the Pensioenfonds Horeca & Catering board of stakeholders is thus additionally responsible for the statutory duties and powers exercised by the council of participants up to 1 January 2008. Receiving advice from a board of stakeholders regarding impending decisions and accounting to that same board for past events provides the basis for fully considered decision making. And working with one sole body chimes well with the aim of an efficient and cost-effective administration process.
At the outset, any individual could volunteer as candidate for a position on the board of stakeholders. Employer associations have already appointed their representatives. Representatives of employee organisations have yet to be named.
The board of stakeholders requires the governing board to account for (report on or answer for) its past conduct of affairs. It is important that all stakeholders should feel they are adequately represented by the governing board and its decisions. Employers, participants, former participants and pension beneficiaries are all stakeholders in Pensioenfonds Horeca & Catering. The governing board’s reports to the board of stakeholders always relate to its past conduct of affairs. The board of stakeholders also makes recommendations to the governing board on impending decisions. The governing board must first consider such recommendations before taking any final decision. You can find the issues on which the board of stakeholders makes recommendations and on which the governing board is required to report in the Fund regulations.