GERMANY - The German district of Landkreis Schaumburg is seeking group pension and life reinsurance services for a new retirement home workers' relief fund.
Currently the workers are covered by the German public supplementary insurer VBL's occupational relief fund.
However, the retirement homes in the region will be transferred into a GmbH, a German legal form, and hence a new, private pension back-up fund is required.
A spokesman for Schaumburg said that the size of the mandate was not known yet, as this still needs to be calculated.
The spokesman expects larger German insurance firms to apply and tenders need to be drawn up in German.
About five or six tenders will be invited; tenderers can send in their request to participate until December 13.
The mandate will go to the most economically advantageous tender.
Schaumburg expects to make an appointment in the beginning of January next year.