The National Association of Pension Funds (NAPF) and the Pensions Management Institute (PMI) have closed discussions on merging the two organisations.
Paul Couchman, President of the PMI, says: “The discussions with the NAPF have been extremely positive. We have explored many of the complementary areas of expertise that both organisations offer and have looked at the significant value a merged organisation could offer to members. The due diligence processes undertaken raised no issues or concerns on either side. However, after careful review by the PMI Board and its Council, we have decided that PMI is best placed to pursue its strategic objectives as an independent organisation. We remain committed to raising standards by providing our members with the highest quality pensions qualifications and look forward to announcing some exciting new initiatives in the near future.”
Ruston Smith, Chairman of the NAPF, says: “It is with disappointment that we make today’s announcement. We must, however, respect the PMI’s decision not to pursue this opportunity. The NAPF continues to fulfil the needs of our members by providing them with the high quality services they require, including education and policy solutions. Together with our members we raise standards and improve understanding in the pensions sector, helping our members to provide pensions for over 17 million people by putting to work more than £900 billion of assets.”
The two organisations first began a collaborative process to assess in detail the possibility a merger in October last year.
