The £900m Durham County Council Pension Fund has chosen Standard Life and Prudential Portfolio Management as additional voluntary contributions (AVC) providers to run alongside existing stakeholder Equitable Life.
According to pensions manager Howard Ladlier, the decision was influenced by the fund’s best value approach. “We wanted to give fund members the widest possible choice,” he said.
Ladlier confirmed that consultant Watson Wyatt shortlisted four potential candidates, including Clerical Medical which operates accounts for the Durham County Council Pension Fund via Halifax. Members who have Equitable accounts will still have access to these accounts via Clerical Medical.
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