UK – Schroder Pensions, part of the €211bn Schroder asset management group, is to manage major UK building society, Bradford & Bingley’s new group pension plan.

The new plan is a contributory stakeholder scheme and is open to all existing and new employees in Britain and Northern Ireland, including the 2,750 of Bradford & Bingley’s 8,000 strong UK workforce who are not covered by the existing scheme. The size of the fund and its asset mix are not yet disclosed.

Says Christopher Rodrigues, group chief executive at Bradford & Bingley : “It is important for us to implement a group pension plan that will cater for the diverse needs of all our staff across the UK.”