P+: New chairman of the board elected at the general meeting with a good turnout

8 April 2024

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Over 1,100 members of P+ had registered for this year’s general meeting, where there was good debate, a new chairman of the board was elected and two member proposals were adopted.

There was a large turnout at P+’s annual general meeting, which was held on 3 April. 475 members participated physically at the event at the Tivoli Hotel & Congress Center, just over 350 participated digitally, and more than 1,200 members had given power of attorney in advance.

In the board’s report, chairman Kim Duus was able to talk about a good 2023 that offered high returns for the members’ pensions.

“There are many different tasks to handle in a pension fund, but the most important one is and will be creating a return for the members. We are therefore pleased that 2023 was a very good investment year in P+. The return in P+ Livscyklus was only surpassed by P+ Bæredygtig when comparing the pension industry’s market rate products for members with more than 15 years to retirement, which is the new industry standard. In other words, P+ delivered both the industry’s highest and second highest returns. It is obviously very satisfying,” said Kim Duus.

Progress on several fronts

In the presentation of the annual report, P+’s managing director Kåre Hahn Michelsen was able to talk about progress in both payments and in the number of members, which reached over 114,000 at the end of 2023. At the same time, P+ had maintained some of the very lowest costs in the pension industry.

“It is very positive that we continue to have more members of P+. The growth helps to strengthen the community. And this means that we can continue to develop our value proposition while keeping costs down,” said Kåre Hahn Michelsen.

Great support for new chairman of the board

Before the general meeting, Kim Duus had announced that he would resign as chairman. The outgoing chairman thanked both board colleagues, Djøf, IDA and the members of P+.

“First and foremost, thank you to all of you who are attending the general meeting today, and to the many competent members who are committed to their pension. I have been happy to be at the head of the pension fund for academics and would very much have liked to continue, but another task got in the way, which I could not say no to, and which is incompatible with the chairmanship of P+. And a more than full-fledged replacement for the position of chairman has been found,” said Kim Duus.

The board had nominated Lars Bo Bertram as the new chairman of the board, after he had been appointed jointly by IDA and Djøf. A very large majority of the members approved Lars Bo Bertram, who thus took over the position as chairman of the board at the end of the general meeting – a job he is looking forward to.

“It has been a pleasure to follow P+ on the sidelines in recent years. P+ has delivered great returns – in fact some of the best in the industry. This has happened at the same time as an increased focus on member satisfaction and increased responsibility. As chairman, I will work to continue to increase member satisfaction. I believe that P+ should be the academics’ natural choice – both when it comes to pension and health,” said Lars Bo Bertram.

Two member proposals adopted

Members of P+ had submitted three proposals at the general meeting. All three proposals were about P+’s work with responsible investments.

The board supported two of the proposals, and they were both passed by a large majority. It is partly about a proposal for strengthened active ownership, which 81 per cent. of the members voted for. Partly about a proposal for further opting out of fossil investments, which 78 per cent. of the members supported.

A third member proposal to opt out of all investments in Israel was not adopted after a debate in which there were submissions both for and against the proposal, as 71 per cent. voted against.

Election to the board

In continuation of the general meeting, four members must be elected to the board of P+. This is done in a first round of voting that runs from 8 to 22 April. All members will receive an election letter in e-Boks when the election opens.

There are 11 candidates for the board, of which the board has nominated four candidates and members have nominated seven.

All candidates had the opportunity to present their candidacy at the general meeting. From both the outgoing and the new chairman there was a clear call to all members to participate in member democracy.

“Throughout recent years, there have been more and more demands from the authorities for the overall competences that a board of a pension fund must possess. The board believes that the board’s four candidates represent the skills necessary to meet the requirements, and can ensure a stable and reliable operation of the pension fund,” said Kim Duus.

The new board chairman Lars Bo Bertram encourages the members to use their vote.

“I hope that as many members as possible will help decide who will shape the direction of P+ in the future. I would therefore like to encourage everyone to vote and spread the word about participating in member democracy among friends and colleagues who are members of P+,” said Lars Bo Bertram.

Source: P+
Multiple reports with cicle diagram and text

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