IFF, the works council and the unions have been in discussions for some time to shape the new pension plan under the Future Pensions Act. Who will administer the new pension plan is yet to be decided. The employer is looking at a so-called General Pension Fund as a possible new administrator of the pension plan.
It is increasingly difficult for IFF Pension Fund, a fund with a small number of participants, to comply with all laws and regulations at acceptable costs. There is a desire to organize everything more efficiently, including pensions. You can read what this may mean for the future of the pension fund on our website.
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