K&FV, the industry-wide pension fund for the packaging industry, has signed an agreement to join PGB, IPE reports. If the €550 million fund’s participant council and the supervisors approve the deal, K&FV will transfer its assets and liabilities to the €11.3 billion pension fund for the printing and publishing industry.

The merger is expected to take place by the end of 2011. The move will enable K&FV to slash its contributions for affiliated employers and its 25,600 participants without amending its pension obligation.

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