Versorgungsanstalt des Bundes und der Länder (VBL), Germany’s supplementary pension provider for public sector employees, has appointed Angelika Stein-Homberg as its new chair.
Stein-Homberg succeeds Richard Peters, who retired at the end of last year after serving on the board of VBL for 25 years.
Stein-Homberg is a lawyer and has been responsible at VBL for customer management, performance management, investment management, and legal processes since 2014 as full-time director and president representative.
In addition to her new responsibilities as chair, Stein-Homberg will continue to carry out her previous duties until all members of VBL’s executive board are appointed.
VBL has continued working to digitise the process for pension applications and to strengthen communication with stakeholders through digital offering in the past years, under the tenure of Stein-Homberg.
During Peters’ tenure, instead, the major challenges facing the pension fund were the development of voluntary insurance and a system that has changed in 2002, when the entire pension system was turned into a new company pension architecture based on a points model.
Peters conducted a strategic realignment of the pension fund, making progress on corporate culture, as essential building blocks for the future of VBL, it said.
“Richard Peters made a significant contribution to the development of the VBL into a future-oriented, digital and professional service provider,” said Stein-Homberg, adding that the scheme will continue to work towards further digitisation and professionalisation of pension management.
VBL has assets under management of €30.12bn, catering for close to five million members, 5,400 employers, paying out €5.6bn in benefits.
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