DENMARK - Post Danmark is tendering for a Danish-speaking manager to administer the pensions of 440 employees - part of a three-year review of existing provision.

The contract, worth DKK78m (€10m), comes as part of a three-lot contract that also covers life and medical insurance for the same group of management-level employees.

However, HR director Palle Juliussen emphasised that the contracts would not necessarily be awarded to the same bidder.
Consultancy Willis will handle the manager selection process, with a decision likely before the end of April. Incumbent pensions manager PFA did not confirm before deadline that it would bid for the contract.

Juliussen told IPE: "Unlike the rest of the pension fund, which is organised according to collective agreement, this is a separate fund involving individual agreements with managers."

According to the most recent available figures, Post Danmark's pension costs in 2009 totalled DKK30m (€4m), down from DKK126m the previous year as a result of corporate restructuring.  The employer's contribution is 12—20% for most employee groups, with contributions agreed by specific unions negotiating on behalf of each group.