Pension agreement of the year - The Co-op

Unifying three large schemes, introducing modern risk management techniques, while maintaining defined benefit pensions is a challenge - but the Co-op has proved equal to the task

Introducing modern risk management techniques to a pension scheme can be a difficult task. Introducing them to three separate final salary schemes that are all part of a larger parent group, while consolidating those three into a single unified fund, sounds almost impossible. Yet this is what UK retailer, the Co-operative Group, is doing. As reported in Life & Pensions last April, the Co-op, as it