The £900m Durham County Council Pension Fund has selected two companies for a showdown for the role of Additional Voluntary Contributions (AVC) provider to run alongside existing stakeholder Equitable Life.
According to pensions manager Howard Ladlier, the fund will shortly decide between Standard Life or Prudential Portfolio Management, adding that the fund may appoint both if they have equally attractive proposals.
Ladlier confirmed that consultant Watson Wyatt shortlisted four potential candidates, including Clerical Medical which operates accounts for the UK-based Durham County Council Pension Fund via Halifax.
By Janet Du Chenne
Here they are - the winners of the UK Pensions Awards 2019...
Sir Philip Green's restructuring proposals for his retail giant Arcadia will not "adequately protect" its pension schemes' members, The Pensions Regulator (TPR) has said.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.