Cheshire County Council's £1.5bn UK based pension fund is to put out to tender for an Additional Voluntary Contribution provider.
According to Maggie Shepherd, finance manager at the fund, a shortlist of candidates should be finalised by mid April. A final decision should be made by the start of May.
Cheshire's decision to put out to tender for an AVC provider follows the Equitable Life's decision to close to new business. However, Shepherd added that the fund is seeking legal counsel over the possible transfer of existing business from the Equitable Life. If they receive favorable advice on Equitable Life, Shepherd said that they could offer AVC's from both Equitable Life and another provider to the fund's members.
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