The Resaver Pension Fund, the scheme for individual employees of research organisations within the European Economic Area (EEA), is to go through an organisational revamp which will prepare the academic cross-border fund for growth and expansion.

“Finally, Resaver is set to become an IORP [institution for occupational retirement provision] as originally intended,” a source familiar with the scheme told IPE at the sidelines of an investment conference last week.

The Brussels-based entity was set up in 2017 after several setbacks with participating academic institutions particularly regarding questions around social laws and cross-border movement.

Currently, the fund is operating in Austria, Hungary, Cyprus, the Netherlands, Italy, Spain and France, but IPE has learnt that “several more countries” are set to introduce the IORP to their national pension framework.

“As part of the Horizon Europe Work Programme 2023-2024 ‘11. Widening participation and strengthening the European Research Area’, an action is foreseen to reinforce Resaver by strengthening its capacities and amplifying its communication activities,” an official at the European Commission confirmed in a statement sent to IPE.

The fund is still being administered by external provider Previnet, selected at inception six years ago. BlackRock remains the sole investment management provider as listed on the Resaver website.

Currently the fund is not publishing any figures on assets under management and the latest news update by the fund was from 2020.

But the source familiar with the fund told IPE they were excited about the “new movement around Resaver” which could also see the IORP get new management with a chief investment officer and a managing director.

Asked about these positions, the EC official said: “In relation to your inquiry about the managerial and directorial positions, as of now, no specific timeline for the tender has been confirmed.”

Some 30 academic institutions all over Europe (including the UK) have joined the Resaver Consortium which is co-deciding the future of the funds along with a board of directors. However, only some of these institutions are currently offering the Resaver pension fund for their academic staff.

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