Searches and Hires

European Commission scouting for DC plan record keeper, investment manager

The European Commission is looking for a record keeper and investment manager to manage the assets of its Defined Contribution International Pension Plan, Brussels, according to a notice on European procurement website Tenders Electronic Daily.

The €42.7 million ($47 million) plan for staff of EC's Directorate-General for European Civil Protection and Humanitarian Aid Operations seeks a record keeper to process participant data including contributions, investment allocations and fund balance.

The selected candidate will offer default funds alongside other investment options, including at least one socially responsible investment option. The provider will supply at least two decumulation options in the form of a lump sum, and either annuities or income drawdown. The provider will also supply communication via an online portal to plan participants. Communication materials must be provided in English and French, and the provider must be based in European economic area

Submissions are due 10 a.m. Central European Time on June 4.