The Cambridgeshire County Council Pension Fund has shortlisted six companies for an additional voluntary contribution (AVC) provider to run alongside Equitable Life.
According to pension fund manager Bob Young the fund hopes to make a decision by the end of May and not April as originally intended. He declined to disclose the names of the shortlisted companies.
“The documentation was only sent to the shortlisted candidates on April 15 and we will only be able to make a decision once these responses have been considered”, he said.
Actuaries Hymans Robertson is advising the fund on the selection of potential AVC providers.
Commenting on the role of Equitable Life, Young said: “We still have some members who will want to deal with Equitable”.
The Cambridgeshire County Council Pension Fund is valued at £900m.
By Janet Du Chenne
Fidelity International has created global retirement savings guidelines to help employers and employees understand how much is needed to save for retirement, writes Kim Kaveh.
The Local Authority Pension Fund Forum (LAPFF) has announced the sudden death of its chairman, Ian Greenwood, on Monday (12 November) night at age 68.
Jonathan Stapleton wonders whether we need a thorough review of the principles for institutional investment decision-making