Loreto Mutua, the mutual fund of the aviation sector and pension plan manager, was the company chosen by Norwegian, at the request of its pilots, to manage their pensions.
Norwegian pilots will see their retirement savings increased in Loreto, an independent entity with 48 years of experience and specialized in pension management that accumulates more than 1,400 million under management.
Madrid, May 2018. LORETO MUTUA, the airline industry mutual benefit fund, has been chosen to manage the retirement savings of Norwegian pilots. The 25,000 LORETO mutual benefit fund members will be joined by Norwegian pilots who have chosen to top up their salary through the LORETO mutual fund, the vehicle chosen by the majority of employees in the aviation sector and exclusively designed for them.
LORETO not only achieved one of the highest returns in 2017 – 5.84% in 2017 and 87% cumulative over the last 15 years – but is also very experienced, specialising as it does in the aviation sector.
The airline, both in terms of Norwegian Air Resources Spain and its sister company OSM Aviation Spain, will contribute between 2% and 6% of its pilots’ salaries on a monthly basis, according to the agreement recently signed between the company and its pilots, represented by SEPLA, the pilots’ union.
The Norwegian airline, for which Spain is one of its main markets, thus shows itself to be a socially responsible company, concerned about its employees’ future and retirement.
“This is great news, not only for Loreto because of what a company of the calibre of Norwegian means, but as an example of trust in our pension management. We are of course very happy and we hope that new groups and companies join Loreto. In addition, as an aviation sector Mutual Benefit Fund, providing we offer the same returns or, as is the case, slightly better, it is logical for companies in the sector to want to be with their specialist institution,” said Jon Aramburu, Loreto’s CEO.
LORETO MUTUA, founded as Montepío Loreto in 1970 for what was then Iberia (now IAG), is the aviation sector’s mutual fund and pension plan manager. An independent company with almost 50 years of experience in the management of savings for retirement, with more than €1.4 billion under management and 25,000 mutual benefit fund members and participants, Loreto owes its excellent reputation to the service and return on investment it offers. Proof of this is the Expansión Award for its Loreto Óptima Plan and the five Morningstar stars, and the 6th place in Inverco’s 2017 national pension plan ranking.
In the coming months, Loreto is also going to launch its investment products through its own fund manager, Loreto Inversiones.