Norway’s Ringerike seeks pension provider

NORWAY - The pension fund of the Norwegian municipality Ringerike is looking for an occupational pension service provider.

The mandate will go to the most economically advantageous tender; tenders will be asked to file a copy of its yearly accounts.

The time limit for receipt of tenders or request to participate for the two funds is October 25; the council requests tenders to be drawn up in Norwegian.

The fund's adviser is consultancy firm Willis, which advises a number of public sector pension funds.

Jan Fredriksen, a spokesman at the firm, last week said in an interview with IPE that the current Norwegian system is a strict merry-go-round in which only three providers, KLP (the largest in Norway), Vepal and Storebrand, can deliver occupational pension services.

Under Norwegian law occupational pension schemes are mandatory since early this year, though these schemes are already established for most employees within the public sector.

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