Baugur and FL-Group to set up own pension fund?

The management of FL-Group and Baugur has assigned a “panel of experts” the task of investigating Icelandic pension funds and to look into the possibility of forming a pension fund for their own employees. The chairman of the union VR, which counts many FL-Group and Baugur employees among its contributors, claims certain “parties in the business community” have threatened him that they will “form pension funds or have their employees transfer to other unions” unless VR’s pension fund does their bidding.

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