Today (Friday) the National Association of Pension Funds (NAPF) and the Pensions Management Institute (PMI) announced their formal intention to discuss a possible merger of the two organisations.
The new combined organisation would create a stronger voice for pensions and retirement benefits in the workplace; bringing together the NAPF’s ability to influence and engage with Government and regulators with the PMI’s comprehensive and innovative qualifications network.
Commenting on the possible merger, Paul Couchman, President of the PMI, said:
“Never has the pace of change in the pensions industry been as rapid as it has been over the past year. Our initial discussions have shown that pooling the resources and experience of our two organisations to deal with the seismic shifts in the pensions landscape seems to make good sense. An organisation combining our complementary areas of expertise would provide all our members with access to a single organisation that could offer comprehensive training and qualifications while effectively representing their interests to Government and regulators. We look forward to discussing in more detail at how we might bring this ambition to fruition.”
Ruston Smith, Chairman of the NAPF, commented:
“In such a fundamentally dynamic environment, it's important to consider strategic options that further strengthen our association and enable us to meet the needs of our members both today and tomorrow. The complementary services, strengths and capabilities of both our organisations offer great opportunities to provide an overall stronger proposition for our members, including even better education and a stronger voice to promote the importance of workplace pensions and retirement benefits for savers in the UK. This is an exciting opportunity where, together, we can make a real difference.”
Today’s announcement marks the beginning of a six to nine month collaborative process between the NAPF and the PMI to assess in detail the possibility and nature of a potential merger. Once this process has been completed both organisations will update their members and the wider pensions sector. In the interim, both organisations will continue to pursue their respective strategic priorities and represent their members.
NOTES TO EDITORS
The Pensions Management Institute (PMI)
The PMI is the professional body which supports and develops the experts who run UK pension schemes. It has the broadest skills base of pensions professionals and trustees in the UK, with some 6,500 members dedicated to establishing, maintaining and advancing the highest levels of pensions knowledge.
PMI members are responsible for managing and advising some of the largest institutions in the world and taking key decisions on substantial financial matters. With some £1 trillion invested in UK pensions, PMI members have a vital role to play in shaping the nation’s financial future. With 37 years of successful operation behind it, the PMI is an organisation at the cutting edge of pensions. For full details of PMI’s qualifications, membership grades and ongoing support services visit www.pensions-pmi.org.uk
The NAPF is the voice of workplace pensions in the UK. We speak for over 1,300 pension schemes that provide pensions for over 17 million people and have more than £900 billion of assets. We also have 400 members from businesses supporting the pensions sector.
We aim to help everyone get more out of their retirement savings. To do this we spread best practice among our members, challenge regulation where it adds more cost than benefit and promote policies that add value for savers.
For PMI related enquiries: Kate Boyle, Director, KBPR, 07930 442883, [email protected]
Lucy Grubb, Head of Media and PR, NAPF, 020 7601 1726 or 07713 073023, [email protected]
Eleanor Bennett, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]