Additional security for Pace DB members
On 24 November 2023 the Pace Trustees purchased an insurance policy from Rothesay Life, which guarantees the payment of Pace DB members’ benefits in the Co-op Section and provides additional security and reassurance for members. The Trustees remain responsible for ensuring Pace is run in the best interests of its members and are pleased to have successfully agreed this new policy to further enhance the support and protection Pace offers to its members. Members don’t need to do anything.
Legal & General's Care Concierge Service
Legal & General, the administrators of Pace DC have recently launched a Care Concierge Service. The service is available to all employees in the UK, not just pension scheme members, covering England, Scotland, Wales and Northern Ireland. You can access information online, and via a confidential phone line with a care expert who can guide you every step of the way.
Your care expert will be able to assist with any later life care questions, whether you are planning ahead for yourself or supporting an older family member.
They can provide information on: care funding options, finding care, benefit entitlements and much more.
Call your care expert on: 0808 189 3195
Or visit the online platform: https://care.legalandgeneral.com/workplace/
2023 Spring Budget
We are aware of the changes to the annual allowance and the lifetime allowance (along with other pensions tax thresholds) in the Spring Budget on 15 March 2023. Next steps are being considered and updates will be available in due course.
The Pace and Somerfield Trustees need your help, we've written to our overseas pensioners.
Find out how you can help us update our records.
Trustee’s response to current market conditions
It is understandable if you are concerned about the impact recent financial market movements may have had on your pension and we wanted to reassure you that the Trustees and sponsoring employers of the Co-op’s pension schemes are watching developments closely to ensure your benefits are looked after.
Pace DC - Retirement Options
We've worked with Legal & General to create an online retirement portal to help you explore and understand all your retirement options and where you can get further support – helping you make the right decision for you and your personal circumstances. Click "Read more" for more information
New Pace DC Investment option - Shariah Fund
We’ve made a change to the funds offered to members. We’ve introduced a new fund, the Pace Growth (Shariah) Fund to the self-select fund range. This fund is available to all Pace DC members now - click on the ‘read more’ button for more information.
Since April 2020, the majority of Pace pensioners have been able to access their pension information online, keep their own details up to date and view, print and save P60s and payslips. Over 1,000 Pace pensioners have signed up so far! Click on the register button to sign up!