Gildi and Festa begin merger discussions

The boards of Gildi Pension Fund and Festa Pension Fund have decided to begin discussions on a possible merger of the funds. The discussions will look at, among other things, whether a merger would be a favourable option for the members of both funds, as well as whether a merger could result in greater economies of scale, improved services and an even stronger fund for the future.

It is established that the funds are similar in nature and structure, including having very comparable benefit systems and articles of association.

Should the merger proceed, the new fund would become the second-largest in the country, with assets of around ISK 1,600 billion based on the funds' position at the end of last year.

The boards of Gildi Pension Fund and Festa Pension Fund