Legal experts have filed a complaint with the Dutch Public Prosecution Service against the directors of the Occupational Pension Fund for Pilots (BPL), arguing that the board committed embezzlement when switching to the new pension system.

The experts involved suggested that pension funds from the scheme were transferred outside of the reach of participants, "deliberately, unlawfully and without the consent of the participants".

In addition to this, it pointed out that these funds will be used, either in whole or in part, for purposes other than participants' pensions.

“By doing so, the board members involved have failed to comply with the obligations imposed on those directors under the legislation and regulations surrounding pension funds and they have deliberately embezzled funds intended for the participants, as perpetrator, co-perpetrator or accomplice,” the complaint stated.

The complaint also suggested that the issue could become bigger in future as the transition to the new pension system continues, warning that the approximately 1,000 directors of the 150 other pension funds will also be guilty of embezzling pension funds when they enter.

Given this, the group urged the court to investigate the matter “urgently”.

“We request that, based on the foregoing and in view of the expected precedent with regard to other pension funds, you urgently initiate an investigation into the embezzlement of pension funds by the aforementioned board members and take the necessary criminal measures,” it stated.

“We are prepared to provide additional information and to cooperate with the investigation team to further clarify the matter.”

The experts involved also confirmed that, in addition to a claim for damages in the context of this criminal case, the affected participants may also file a civil claim for damages, in which the directors will also be held personally liable for improper management.

BPL said that the pension fund has not yet been informed of the contents of the declaration and can therefore not respond further to it at this time.

“It is up to the Public Prosecution Service to decide whether or not to follow up on this report, which the board looks forward to with confidence,” it stated.

“We regret this course of events, given the time, capacity and costs we will have to spend on this, while we would rather spend this on our participants and pensioners."

The complaint, led by SOBI Foundation chairman, Pieter Lakeman, is also supported by former adviser to the Ministry of Finance, Harry Bollema, former adviser to the Ministry of Justice and Civil Servants Pension Protection Foundation chairman, Jan Lely, and former advocate general at the Court of The Hague, Jan Peter Wittop Koning.

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