Investments in Pace Complete
Pace Complete's assets are invested with the aim of building up sufficient investment returns to meet the benefits promised to members. The Pace Trustees, with the help of investment advisers, choose where to invest the assets and draw up a Statement of Investment Principles (SIP) which outlines Pace Complete’s investment strategy. The SIP is reviewed annually and updated at least every three years and after an actuarial valuation.
The Trustees are in the process of implementing some changes to Pace Complete's investments. The Trustees believe that the changes will allow them to meet their investment objectives as set out in the SIP.
The strategy being implemented will target more 'liability-matching' assets (including government and company bonds), which are less risky than 'growth' assets (such as company shares and property) and are expecting to help to stabilise Pace Complete's funding position.
Responsible Investment policy
The Pace Trustees have adopted a Responsible Investment policy, which outlines how environmental, social and governance issues are accounted for within Pace's investment strategy.
The UK Stewardship Code
The UK Stewardship Code aims to improve the way pension schemes interact with the companies whose shares they own, which in the long term should help improve the financial return for shareholders like Pace. The Pace Trustees have prepared a statement that sets out how Pace aims to comply with the code.
Investment in Pace DC
If you are a member of Pace DC, you'll have an individual 'account’, which holds the contributions you and the Co-op pay. You can choose where to invest your account from a range of investment options.
The investment options in Pace DC are selected by the Pace Trustees. There are three Target options which are designed to be a good match for the different retirement options you can take from Pace DC. Alternatively there are also a number of funds available if you want to choose how your account is invested.
To find out more about your investment options in Pace DC, see the separate fund guide at www.legalandgeneral.com/coop
You can find more information on Pace investments in the Investment Documents section of the website