The rules for outsourcing by pension funds have changed. These changes empower supervisors to request information directly from and to conduct an immediate investigation with the third party to whom the activities have been outsourced. Notwithstanding this, the pension fund remains fully responsible for the performance of these activities.
The changes may imply that existing arrangements (such as investment management agreements) entered into between pension funds and third parties need to be revised. These changes have entered into force on 1 July 2009.