Baerum appoints consultant for new scheme

NORWAY - The Norwegian municipality of Baerum has appointed Pensjon & Finans AS to help establish a new pension fund.

Baerum kommune, which has Sandvika as its capital, initiated a search in June for consultancy services to develop a mutual pension scheme for all sectors of the municipality, including underlying institutions, organisations, trusts and enterprises.

Documentation accompanying the tender notice revealed the municipality is facing an economic challenge in the next three years, and it has appointed Pensjon & Finans to help deliver a new pension fund to start on 1 January 2010. (See earlier IPE article: Baerum seeks help establishing new pension fund)

Two firms applied for the contract, which is believed to last for an initial period of 18 months, however Pensjon & Finans was appointed on the basis of its performance against a range of criteria including price, competence of the consultants, its ability to execute the work, relevant experience and its description of the solution.

Details of the original tender revealed the apointed consultancy would be expected to help the municipality develop a "tailor-made and efficient" scheme, which fits within political constraints.

Meanwhile, a number of other Norwegian municipalities are elsewehere continuing their searches for new providers of occupational pension schemes following a spate of re-tendering exercises by areas including Ballangen, Storfjord, Ski, Skedsmo and Kongsvinger. (See earlier IPE article: Ballangen municipality seeks pension provider)

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