Rodoy kommune, a municipality in Norway, hired Kommunal Landspensjonskasse to establish a public service pension fund, according to an announcement on European procurement website Tenders Electronic Daily.
The pension fund will cover employees in the municipality, excluding teachers.
The decision, made last month, followed a recent announcement by Norwegian life insurance and pension savings firm DNB Livsforsikring ASA that it is winding down its public service pensions business.
“According to surveys carried out in the market, there are no other actors who offer public service pension schemes for municipal employees,” the TED announcement said. Therefore, an RFP was not issued.
The local government association, Kommunenes sentralforbund, and the Norwegian Financial Supervisory Authority were consulted, the TED announcement said.
Executives at Rodoy kommune and Kommunal Landspensjonskasse did not respond to requests for comment by press time.