The Pensions Management Institute and the NAPF have announced their intention to hold discussions about a possible merger of the two organisations.

The Boards of both organisations believe there are significant benefits of a shared relationship, such as bringing together the NAPF’s ability to influence and engage with government and regulators with the PMI’s comprehensive qualifications network.

“We can be a stronger voice representing members in a time of constant change and pooled resources and expertise will ensure that members can receive stronger and broader services”, NAPF chief executive Joanne Segars said.

“Above all, we have the potential to bring two already-strong organisations together to create one even stronger organisation for the benefit of members.”

PMI president Paul Couchman described the pooling of resources and experience as making “good sense”.

“An organisation combining our complementary areas of expertise would provide all our members with access to a single organisation that could offer comprehensive training and qualifications while effectively representing their interests to government and regulators. We look forward to discussing in more detail at how we might bring this ambition to fruition,” he added.

No final agreement has been reached and over the next six to nine months detailed discussions on how a merger could work in practice will take place between the two organisations.

Once this process has been completed both organisations will update their members and the wider pensions sector. In the interim, both organisations will continue to pursue their respective strategic priorities and represent their members.

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