NORWAY - Two Norwegian municipal pension funds worth an estimated total of NOK320m (e38.6m) are seeking a supplier to handle the administration, asset management and underwriting of the schemes.
The municipalities of Rygge and Mandal issued a tender calling for group pension services for their state occupational pensions.
These were set up to supply pensions for the municipal employees following an agreement between the employers organisations and the main trade unions.
The Rygge pension fund was estimated to be worth around NOK150m while that of the Mandal municipality was said to hit the NOK170m mark. The tenders will roughly be worth NOK15m and Mandal NOK17m respectively.
Both municipalities have issued a tender calling for group pension services.
The bidding for the services will close on 27 October.
Aon is advising both municipalities.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point