ABF reviews pensions ahead of auto-enrolment

Associated British Foods (ABF) has appointed a default fund provider as parts of its pension scheme review ahead of auto-enrolment.

From October 2012, the scheme will offer its members flexible target date funds as the default option, which will be managed by investment management firm AllianceBernstein.

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The international food, ingredients and retail group’s defined contribution (DC) pension scheme has more than 8,000 members with around £110 million of existing assets under management. Its auto-enrolment staging date is 1 February 2013.

Colin Hately, group pensions director at ABF, said: “In advance of auto-enrolment, we have undertaken a review of our pension offering to ensure that we continue to provide the best possible solution for our employees.”