Most recent columns

Dick Kamp: The Wtp requires a more differentiated and transparent approach to risk management

Tue, 28 Apr 2026 06:04:11 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Dick Kamp, Director of Pensions, Investment and Risk, Milliman Pensions

The introduction of the Wtp compels pension funds to fundamentally reassess their risk management framework. In a two-part series, I examine the impact of the Wtp on risk management and governance. In this first part, I outline the contextual shift brought about by the Wtp, the key elements of the risk management framework, and the impact of the new legislation on that framework. I conclude with a discussion of the Own Risk Assessment (ERB) as a central instrument in this new context.

Dick Kamp: Why no pension fund can operate responsibly without scenario analyses

Tue, 24 Mar 2026 07:04:40 +0100

^{This column was originally written in Dutch. This is an English translation.}

By Dick Kamp, Director of Pensions, Investment and Risk, Milliman Pensions

Scenario analyses are an indispensable and structural steering instrument for pension fund boards under the Wtp, as they enable insight, agility, and accountability in achieving the pension ambition within the agreed risk budget.

Dick Kamp: Risk management and the end-of-history illusion

Tue, 24 Feb 2026 09:04:01 +0100

_{This column was originally written in Dutch. This is an English translation.}

By Dick Kamp, Director of Pensions, Investment and Risk, Milliman Pensions

We usually associate personal development with our younger years: studying, first jobs, discovering who you are and what you want. Yet growth does not stop after the age of thirty. How do people of other ages view their own development?

Dick Kamp: After the transition, optimisation begins

Wed, 21 Jan 2026 09:08:09 +0100

_{This column was originally written in Dutch. This is an English translation.}

By Dick Kamp, Director of Pensions, Investment and Risk, Milliman Pensions

With the transition to the new pension contract, pension fund administrators are taking on new tasks and responsibilities. One of the most important is optimisation: continuously improving business operations in order to carry out the social partners' mandate more effectively. This requires not just isolated measures, but a structural and integrated approach.

Dick Kamp: A new risk advisory model for the pension sector is not a luxury, but a necessity

Wed, 24 Dec 2025 09:47:54 +0100

^{This column was originally written in Dutch. This is an English translation.}

By Dick Kamp, Director Pension, Investment and Risk, Milliman Pensioenen

The pension sector stands at a critical crossroads. Demographic shifts, climate change, technological revolutions, and evolving member expectations are creating a perfect storm that is putting traditional advisory models under pressure. The current fragmented approach to risk management is no longer adequate for the complex challenges ahead. Pension funds that cling to outdated advisory structures risk falling behind in a rapidly changing world, while frontrunners that invest now in integrated expertise can build a significant competitive advantage.