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Oman mulling merger of state pension funds
- Oman: Wednesday, January 09 - 2013 at 03:29
Omani financial affairs minister Darwish al-Balushi has said the government is considering the merger of eight state-run pension funds, a move which would boost efficiency and create a single multi-billion-dollar institution with increased investment power, Reuters has reported. The funds set to be consolidated are the Civil Service Employees Pension Fund, Public Authority for Social Insurance, Royal Guard of Oman Pension Fund, Diwan of Royal Court Employees Pension Fund and four funds belonging to the security services. "The eight pension institutions are negotiating to merge which would lead to one large consolidated fund to improve efficiency, returns and investments," al-Balushi told the news service.
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