The £900m Durham County Council Pension Fund is aiming to appoint an additional voluntary contributions (AVC) provider by May 31 this year.
According to pensions manager Howard Ladlier, the AVC provider will run alongside Equitable Life as a way of affording policyholders more choice. “Some policyholders will still want to make use of their Clerical Medical accounts, which are available through Equitable,” he said.
Ladlier said that consultant Watson Wyatt assisted in shortlisting four candidates, from which the fund chose two for the final round of decision-making. He declined to name the two final candidates, but said the fund may choose both.
By Janet Du Chenne
This week's edition of Professional Pensions is out now
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