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KLP picks up Norwegian municipal mandate

NORWAY - Norwegian municipality Eidskog has appointed KLP, Norway's biggest pension provider, as its municipal occupational pension service provider for its NOK200m (€24m) fund.

Advised by consultancy firm Willis, the council announced via a tender procedure in August last year that it was looking to appoint a pension provider.

Eidskog awarded KLP late last year, the council said.

Willis consultant Jan Fredriksen told IPE at the time that the Norwegian system only allows KLP, Vepal and Storebrand to deliver these services.

Such tender procedures are "a merry-go-round of these three providers", he said, while calling for more competition.

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