The £11bn Co-operative Group Pension Scheme (Pace) has chosen LGIM's future world multi-asset fund as its defined contribution (DC) default, switching £290m of member assets into the strategy.
The scheme said that, as a result of the move, over 90% of Co-op employees' £315m DC assets will be invested in companies and bonds that score heavily when it comes to environmental, social and governance...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter