The boards of the General Pension Fund and the Life Insurance Fund have signed a letter of intent to begin formal discussions on a possible merger of the funds. The goal is to examine whether a merger would improve the interests of fund members and strengthen the operations of the funds for the future.
The boards of the General Pension Fund and the Life Insurance Fund have signed a letter of intent to begin formal discussions on a possible merger of the funds. The goal is to examine whether a merger would improve the interests of fund members and strengthen the operations of the funds for the future.
If the merger were to take place, the combined fund would be the fifth largest pension fund in the country with total assets of ISK 667 billion based on the asset position at the end of last year.
Negotiations are at an early stage but are expected to be completed before the summer. If an agreement is reached, statutory fund member meetings will be called where a proposal for a merger will be put to a vote in accordance with the articles of association of each fund.
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