In recent months, the boards of the Reykjavík City Employees’ Pension Fund and Brú have worked on the merger of the funds that is now in place. It has been agreed that the funds will merge as of the end of last year, and a department called R has been established at Brú, which will manage the operations, assets, debts and obligations of LsRb.
The main assumption for the merger is that the accrued rights and entitlements of fund members for the future will remain unchanged, as will the City of Reykjavík’s guarantee. The merger will lead to both financial benefits and better utilization of the fund’s staff.
Source