A short introduction
We are Mars pension fund*:
- Approximately 1,336 Mars employees build up their pensions with us.
- Every month, we pay out a pension to 1,373 pension beneficiaries. This is a retirement pension, but we also provide a pension if you become incapacitated for work, or for your next of kin if you are no longer with us.
- We manage € 1.8 billion in investments.
* From the 2020 annual report
The board of Mars Pension Fund
Who are we?
The board of Mars Pension Fund consists of people who work or have worked at Mars: 2 members on behalf of the employees, 3 members on behalf of the employer, 1 member on behalf of the pensioners.
Mars Pension Fund implements the pension agreement agreed between the employer and the works councils. The core values and identity of Mars Pension Fund are based on the five core principles of Mars Pensioen Fund:
Until the new pension system is implemented, the characteristics of Mars Pension Fund will gradually change as a result of the closed nature of the final salary scheme and the increasing size of the MUP-MSP scheme. This is how we see the Mars Pension Fund in the period until the new pension system is implemented:
- We have the ambition to provide excellent pension schemes
- We still have a parity board with the possibility of an external board member
- We strive for excellent quality in our services with the help of internal and external excellent expertise
- We want to maintain the good relationship with the sponsoring company and the trust of the members in MPF
- We will operate less complex pension plans
- We will prepare the pension fund as well as possible for the transition to the new pension system
- The pension board will at all times take into account the interests of all stakeholders in balancing its plans
Decisions and influence of the Board
The main task of the board is: to ensure that all pensions are paid correctly and on time. To this end, we collect the pension contributions and manage and invest the pension funds. You can read more about the investment activities in our annual report.
The board also adopts the fund's pension regulations. These state:
- How we calculate the pensions;
- What obligations you have to receive a pension.
In the administration agreement with the employer(s) we have laid down the agreements about the payment of the pension premiums.
Blue Sky Group is responsible for the execution of the pension plans.
Mars European Treasury & Benefits Center (ETBC) supports the board with, among other things, controls of the execution, the investments, policy and governance issues.
The board does not determine the pension scheme. Mars does that together with the works councils. After all, your pension is an employment condition.
Working with professionals
The implementation of the scheme is outsourced to different parties. They take care of:
- the pension administration (Blue Sky Group)
- the investments (Secor Investment Advisors LLP, London)
- the management support (Mars Treasury & Benefits)
Supervision and monitoring of the Pension Fund
Mars Pension Fund must comply with the rules of the Pensioenwet just like all other pension funds in the Netherlands.
We are supervised and monitored by various internal and external parties.
Internal control: Accountability Body, Supervisory Board, key management personnel and the compliance officer.
External audit: De Nederlandsche Bank (DNB), Netherlands Authority for the Financial Markets (AFM) and an auditor and actuary.
The Pension Fund incurs costs
To arrange your pension properly, we incur costs. These include the costs of the board, administration and asset management. Controlling the costs is an important point of attention for the board.
You can read more about the costs we incur in the Pension 1-2-3.