GERMANY - MetallRente, Germany's newest and biggest pension institution, has added workers from the country's textiles, timber and plastics industries, taking the number of potential members past the 4m mark.
The consortium - whose operations are currently managed by Allianz Dresdner - has now added 300,000 plastics and wood workers, 120,000 steel workers, 170,000 textiles and clothing employees to its ranks. The group initially covered IG Metall’s 3.6m metal and electrical workers.
Additionally, MetallRente claims that it is looking to add other companies from differing sectors.
MetallRente began life as a joint venture between Germany’s biggest single trade union IG Metall and the Gesamtmetall Metalworking Employers’ Association. In addition to Allianz Dresdner, the consortium includes life insurance companies Victoria Lebensversicherung and BHW Lebensversicherung, and regional bank Westdeutsche Landesbank Girozentrale.
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