SWEDEN - Pharmaceutical giant AstraZeneca is to put four mandates for its defined contribution (DC) plan out to tender during the third quarter.
Michael Runnakko, pensions and benefits manager at the EUR259m fund, said that the fund will begin its search for new DC providers after the second quarter and hopes to have firms in place by the end of the year. The selected firms will be on a three year contract, he said.
Although he declined to name the current providers, he did say that their contracts will expire at the end of the year, hence the upcoming search.
Additionally, Runnakko said that the fund had selected Handelsbanken Asset Management to run a EUR99.3m fixed income mandate for its defined benefit scheme.
By Geoffrey Ho
Industry experts are calling on the government to act quickly on new pensions dashboard legislation. The DWP is looking at how to do it amid Brexit constraints, writes Kim Kaveh.
An interactive and hands-free technology that allows savers to track how much they have invested into their retirement pots has been launched by Smart Pension.
The Lighthouse Pensions Trust has recorded an 84% surge in the number of employers signed up to its auto-enrolment (AE) provision.
Melrose Industries's UK defined benefit (DB) schemes had a £5.5m combined deficit at the end of 2016, its annual results have revealed.