Directors and officers involved in retirement management are facing multiple challenges. Demographic changes (aging/longevity) undermine non-funded PAYG arrangements, put pressure on solidarity in funded systems and make the premium instrument blunt. Within a decade, two crises on the financial markets (the Dot.com and Global Financial Crisis) raised the bar for Risk Management and Pension Fund Governance. International accounting standards cause undesired volatility in the balance sheet and P&L of multinational corporations, while they try to balance cost control and their fiduciary role towards employees. The latter remaining inert and unaware of their future income situation.
Governments rethink their retirement systems. Occupational pensions are more in the spot light. Risk pooling, asset pooling and pension pooling are top of mind within large multinational corporations. Defined Benefit plans are expiring, although many put in run-off will need professional management for decades to come. Defined Contribution systems are top of mind and new variations introduced: Collective DC and Notional DC. Individual DC schemes are put under the microscope and intelligent features are added to repair shortfalls and protect members.
What is your strategy?
Pieter J. Kiveron MBA, CEO of Penthièvre Mondial, is a very experienced pension specialist with an extensive network in the financial services industry.
Pieter started his career in pensions 25 years ago and has worked both nationally and internationally for insurance companies (group pension and risk pooling), consultancy firms (independent since 1993) and as Chief Commercial Officer for one of Europe’s largest third party pension providers (2005-2010). His strengths: connections, content and strategy.
Connecting people, as people are fascinating. Customer contact in the B2B business area is a prerequisite for this outside-in thinker. Pragmatically connecting goals and objectives with results, as results simply count. Based upon his experience and studious nature, he is broadly skilled in content. He is curious and likes to broaden his horizon with reading, permanent education and training. He is sharp in strategy due to an excellent combination of analytical thought and a large dose of creativity.
One of Pieter’s recent assignments was to represent the Dutch pension industry abroad as Managing Director of Holland Financial Centre for Retirement Management ad interim.
Together with other professionals, he takes on assignments and projects at the business side of pensions.