Merger of Reykjarvík City Employees’ Pension Fund with Brú pension fund

In recent seasons, LsRb and Brúar’s board have been working on the merger of the funds that is currently available. It is agreed that the funds will be merged based on the end of last year, but a department has been established at Brú called R, which will manage operations, assets, debts and obligations of LsRb.

The main assumption for the merger is that the accrued rights and entitlements of the fund members for the future will remain unchanged, as well as the guarantee of the City of Reykjavík. The merger leads to both financial benefits and better utilization of the fund’s staff. The fund’s amended articles of association have been approved by the fund’s board and are now being processed by the fund’s member companies and the Ministry of Finance.

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