NORWAY - Two more Norwegian municipalities have re-tendered contracts for a provider to supply their local authority pension funds.

Gjerstad kommune and Båtsfjord kommune have both issued tender notices for a provider of a public occupational pension in accordance with the main tariff agreement in the Norwegian Association of Local and Regional Authorities area.

Both contracts are scheduled to start on 1 January 2010 for an initial period of one year with two further one-year extensions available where necessary.

The Gjerstad pension contract is valued at around NOK 15m (€1.67m), while the Båtsfjord kommune pension scheme is offering a contract valued at NOK 13m.

This is the second round of re-tendering by Norwegian municipalities for pension providers, as last year at least six larger kommunes initiated tender searches, including Ski, Skedsmo and Kongsvinger.  (See earlier IPE article: Norwegian municipalities award pension mandates)

However, while those searches appear to have been completed, with Skedsmo confirming the appointment of Storebrand as its pension provider last week, three other municipalities - Risør kommune, Vadsø Kommune and Eigersund kommune - all started the tender process at the end of last month. (See earlier IPE article: Skedsmo appoints Storebrand to pension role)

The closing date for applications for the Gjerstad kommune and Båtsfjord kommune pension roles is 31 July 2009, and further information can be obtained from Aon Grieg AS.

If you have any comments you would like to add to this or any other story, contact Nyree Stewart on + 44 (0)20 7261 4618 or email nyree.stewart@ipe.com

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