The National Association of Pension Funds (NAPF) and the Pensions management Institute (PMI) have announced that they have ended discussions on merging the two organisations.
PMI president, Paul Couchman, said: “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.” He added that the PMI aimed to continue to provide high quality pension qualifications and would be announcing some new initiatives in the near future.
National Association of Pension Funds (NAPF) chairman, Ruston Smith, commented on the ending of the merger talks: “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.”