BELGIUM - The Belgian municipality of Brecht has tendered a €2.4m (£1.8m) mandate for a new pension fund.
Gaston van Camp, a spokesman for the council, said there were several parties interested in running the mandate and the municipality expected bank-insurers who specialise in managing assets on this basis to tender.
Van Camp said: “It will be a fund for the 50 employees of the community of Brecht. We must pay our pensions for our employees for several years.”
Interested parties are invited to submit their applications in Dutch by July 2.
In a separate development, Global Pensions previously noted Belgian pension fund returns fell by 6.2% to 8.76% over 2006, compared to their 2005 performance of 14.96%.
A survey of 32 funds by the Belgian Association of Pension Institutions said the performance was still strong despite the dip, continuing a four year run of positive returns.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.