The Danish pension fund for technicians and bachelors of engineering ISP Pension has joined Sampension, which provides administrative and asset management services to pension funds in Denmark.
By moving administration to Sampension, its 12,500 members will see reduced administration costs and become part of a community of other academic pension funds – The Architects’ Pension Fund and The Pension Fund for Agricultural Academics and Veterinary Surgeons.
ISP, as well as the other pension funds administered by Sampension, is fully owned by its members.
The pension fund moved administration activities from AP Pension, will continue to be an independent pension fund at Sampension, with its own member-elected board of directors, its own annual general meeting and its own identity, it said in a statement.
Commenting on the move, ISP Pension chairman Lars Bytoft said: “We have chosen a setup which has been developed through having experience with serving other scientific academic pension funds.
“I am sure that we will jointly reap a great number of benefits in the form of large savings on administrative costs and an attractive and member-friendly digital platform,” Bytoft said.
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