Sections

Flemish government aids VRT fund

Related images

  • Flemish government aids VRT fund

BELGIUM - The Flemish government in Belgium has announced it will pay a yearly sum of €10m into the pension fund of public broadcaster VRT, following "structural financial shortages" at the organisation.

In a statement on its website, the government said the VRT's corporate contribution to its €400m pension fund for statutory personnel - which belongs to the first rather than the second pillar - will be replaced with a yearly state contribution.

From this year, the Flemish government has pledged to pay €10m per year for the VRT's pension arrangements until 2010, when a review is scheduled.

"These intercessions are necessary to get rid of the structural financial shortages at VRT that have arisen following disappointing turnovers," according to the statement.

The broadcaster has a second, smaller pension fund for contract employees.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • DS-2487

    Closing date: 2018-11-22.

  • QN-2489

    Asset class: Alternatives.
    Asset region: Global.
    Size: $100m.
    Closing date: 2018-11-30.

  • QN-2491

    Asset class: Alternatives.
    Asset region: Global.
    Size: $20m.
    Closing date: 2018-11-30.

Begin Your Search Here