Dick de Beus, chairman of PGGM, the Dutch health and welfare sector pension fund, is stepping down from his post on April 1.

De Beus has been on the board for 25 years and chairman for 15 years. After his retirement de Beus will retain a connection with the €50bn fund as a consultant. De Beus said: "I took this decision for myself years ago.Twenty-five years is a good length of time. And by announcing it at this stage I am making it possible for the governors to find a successor in good time." A replacement for de Beus has not yet been named.