Pace DC offers a range of options and includes valuable contributions towards your retirement from
If you leave the Co-op you still keep the pension savings you've built up in Pace DC - including the money paid in by the Co-op.
Pace DC has achieved the PQM Plus Award, which is only given to the UK’s top defined contribution pension schemes.
Pace DC administration charges
If you’re in Pace DC, you currently pay an Annual Management Charge from your account to Legal & General to pay for the administration of Pace DC. The Co-op previously paid a £5 per member subsidy each year to Legal & General to reduce this charge.
The Co-op agreed with Legal & General that this subsidy would cease from April 2019 and as a result the administration charge increased slightly from 0.13% to 0.16% of the value of your fund each year, an increase of 30p for every £1,000 you save. The charges paid to Legal & General are still very competitive. Full details of the charges paid from your account are in the Pace DC pension guide.