Find out how the Fund is set up, who runs it and how they keep members’ benefits secure.
The Fund closed to new members in 2007, and in 2012 it closed to future accrual. On 4 November 2012, all active members of the Fund started to build up benefits in the Co-op’s Pace pension scheme, unless they chose not to join Pace. If you’re a member of the Pace pension scheme, you can find out more about it at coop.pacepensions.co.uk
The Fund continues to hold the accrued benefits of its members.
The Fund is managed by a corporate Trustee company called TCG Northern Trustees Limited, who run it in accordance with the Trust Deed and Rules. The Trust Deed and Rules give the Co-op the power to appoint or remove the Fund’s Trustee.
The Trustee company is run by a board of up to eight Directors. Up to five of the Directors are appointed by the Co-op (including one Independent Trustee Director) and up to three are Member-Nominated Directors (MNDs).
The current Trustee Directors are listed here, with a brief background to each individual.
Russell has been a Co-op-appointed Trustee since October 2012 and he was elected Chair of the United Board in December 2014. Russell has worked for the Co-op for over 30 years and is Head of Community Delivery within the Co-op’s Community & Shared Value Leadership team. He sits on the Audit & Risk Committee and the Investment Committee. Russell is also a Board Member for the Co-operative Academies Trust.
Chris has been a Trustee Director on the United Board since December 2014 and is a Professional Independent Trustee for Independent Trustee Services (ITS) Limited, which is part of Independent Governance Group (IGG) Limited. A leading figure in the industry, Chris is the Executive Chair of IGG. He was a founding Director of ITS in 1990, becoming Managing Director in 1997 and Executive Chairman in 2018.
Chris has been a professional trustee for over 30 years and acts as trustee on a number of complex defined benefit schemes. He also leads on two of ITS’s larger defined contribution schemes. He has been a Trustee on some of the Co-op’s other pension schemes for four years.
Carol has been a Co-op-appointed Trustee since August 2018. She has worked for the Co-op for over 30 years and is Head of Talent Acquisition & Development within the Co-op’s Business Services team. Carol sits on the Audit & Risk Committee.
Alex has been a Co-op-appointed Trustee since May 2021. He has worked for the Co-op since 2005 and is an Operations Manager within the Co-op’s Retail business.
David has been a Member-Nominated Trustee since August 2019. He has worked for the Co-op for over 30 years and is Head of Customer Delivery (Store Change) with the Co-op’s Store Innovation & Format team. David sits on the Investment Committee.
David has been a Member-Nominated Trustee since August 2023. He currently works for St John Ambulance and has previously held management positions within United Co-operatives, HBOS and PSA. David is also an active volunteer with St John, where he is involved with their Duke of Edinburgh award programme and has additional roles as a Trainer and Assessor and Event Nurse. David sits on the Audit & Risk Committee.
John has been a Member-Nominated Trustee since August 2023. He is now retired but held senior roles with the Co-op for 30 years before retiring. John has previous experience of being a Trustee Director and also held the position of Chair of Governors for the Co-operative Academy in Leeds.