The best place for all your pensions gossip

Tainted Love

Are they or aren’t they? Just in time for Valentine’s Day, it seems the tentative courtship between the Pensions Management Institute and the National Association of Pension Funds is most definitely off.

Back in October, the two organisations took the unusual step of announcing they were considering a merger. My sources say the announcement was prompted by the likelihood of the news coming out at the notoriously gossipy autumn NAPF conference, which started five days afterwards. But announcing possible intentions does make life more awkward when you then have to admit it won’t work after all.

So why didn’t it work out? I hear from numerous sources that the project was being driven on the PMI’s side by its president Paul Couchman, but the rest of the PMI council weren’t so keen.

It’s a shame for the NAPF. In the “it’s off” press release, NAPF chairman Ruston Smith said: “It is with disappointment that we make today’s announcement. We must, however, respect the PMI’s decision not to pursue this opportunity.”

Still, better to have loved and lost, than never to have loved at all.

And I’m sure they’ll stay friends.