Mammoth deal secures the benefits for nearly 50,000 scheme members
The Co-operative Pension Scheme (Pace) has agreed its third buy-in this year, insuring £400m of liabilities in the Co-operative Bank section of the scheme with Pension Insurance Corporation (PIC).
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.
Trustees of the £10bn Co-operative pension fund are demanding £50m to split the scheme and enable a deal to rescue the struggling bank, according to reports.
The Co-operative Group has reported a £564m increase in the combined surplus of its defined benefit (DB) schemes.
Lord Myners has been appointed to chair the governance review into the Co-operative Group and how its board is constituted and chaired.
Paul Flowers' role as a trustee to the Co-operative pension scheme will come under scrutiny as part of ongoing governance reviews into the Co-operative Group and Bank, a spokesman has confirmed.
Here it is - the complete list of winners for this year's Pension Scheme of the Year Awards.