Co-op’s pension scheme, called Pace DC, helps you save for retirement. Depending on how much you pay in, Co-op will contribute up to 10% of your pay.
If you want to join Pace DC
Everyone who works for the Co-op can join Pace DC. You’ll be automatically enrolled in the Pace DC pension scheme to contribute 4% of your pay if you:
- earn more than £10,000 per year before tax (this is based on your contracted hours and doesn’t include any overtime)
- are aged 22 or above (if you turn 22 when working for Co-op, you’ll be automatically enrolled in the scheme)
- are under the State Pension Age
You can check your State Pension age by using the pension calculator on GOV.UK.
If you’re a Co-op colleague who hasn’t been automatically enrolled or has previously opted out, you can join the pensions scheme at any time.
If you’re already a member of Pace DC
You can increase or decrease the amount you pay in Pace DC at any point by completing the increase or decrease my contributions form.
You can opt out of Pace DC at any time.