The J Sainsbury Scheme is to become Paul Myners' first beacon test site by putting into practice key proposals to improve service to members.
Gartmore boss Paul Myners was commissioned by the government last year to produce a report on institutional investment.
The UK £3bn fund said it will attempt to enact the 10 commandments outlined in the review of institutional investment.
Pension manager Geof Pearson said: To us, the proposed principles will benefit the scheme. Obviously we will have to adapt some of them to our scheme's individual circumstances and that is what Myners expects. He is not being prescriptive - he is allowing for that flexibility.
Pearson added: We are looking through each of the '10 commandments' and asking: 'Do we do this and if so are we doing it well enough?'. If not we will follow Myners' recommendation to see if it ultimately benefits the scheme.
The Sainsbury scheme is the first - and, so far, only one - to announce publicly its intention to enact Myners' principles but Pearson believes there are many more in the wings adopting the recommendations.
Pearson added that the scheme's consultant, Frank Russell, would guide it to a higher level of Myners compliance.
The scheme intends to introduce Myners' proposals immediately. It is currently conducting an asset-liability study which it expects to complete in early July and will follow the Myners proposal for allocating 3pc of the scheme's assets in alternative asset classes.
All these things will be looked at by trustees in their next meeting early next month, Pearson said.
The scheme has also appointed Watson Wyatt to draw up a shortlist of stakeholder providers to replace its GPP scheme which offers a matching employer contribution level up to 5pc.
It will also offer a separate stakeholder scheme - by the same provider - for its concurrent members to run alongside its existing five AVC schemes which are operated by Equitable Life, Halifax, Norwich Union, Fidelity and Friends Provident.
The scheme is looking for a stakeholder provider who can offer add-ons such as critical illness cover, income protection benefit and life insurance. Watson Wyatt is expected to produce a shortlist of three or four providers.
The scheme hopes to make an appointment by August and for it to be active by April 2002.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.