L&G to administer Co-op AE pension scheme

by Gill Montia

Story link: L&G to administer Co-op AE pension scheme

Legal & General Workplace Savings has been appointed by The Co-operative Group to administer its automatic enrolment pension scheme.

Around 40,000 Co-op staff will meet the automatic enrolment criteria, with a further 30,000 able to opt into the scheme.

As one of the UK’s larger employers, the staging date for the Co-op’s automatic enrolment is 1st November 2012, when the scheme will be available to all eligible employees.

Commenting on the deal, L&G’s distribution director workplace savings, Helen Buchanan, says: “This is a ringing endorsement of the competitiveness and quality of our products and service.”