Co-op appoints First Actuarial to administer the Somerfield Pension Scheme
2 October 2025
Co-op is to outsource the administration of the Somerfield Pension Scheme to First Actuarial. Keen to safeguard continuity of service for members of the Scheme, which up to now has been managed in-house, Co-op is moving several of its administrators to First Actuarial’s nearby Manchester office.
Gary Dewin, People Director at Co-op, says: “Continuity of service is really important. We’ve developed our pension services over many years, and both the Trustee and Co-op needed to make sure services were delivered at the same level or, if possible, better. It’s for that very reason that we see our relationship with First Actuarial as a long-term partnership.”
Because the arrangement involves the transfer of some of its employees, First Actuarial’s working environment and company culture were strong considerations for Co-op. They could see that First Actuarial’s Manchester office would be a good workplace for its employees.
Gary Dewin says: “What Co-op and First Actuarial have in common is a people-centred culture. That came through strongly and it tends to be reflected in the quality of services – employees who work well together are more likely to deliver better customer experiences. We were impressed with First Actuarial’s personable and knowledgeable people.”
Sam Mullock, Partner and Head of Business Development at First Actuarial says: “When schemes are administered in-house, members expect to speak to pension team-members they know. We will keep that personal feel, rather than operate like a distant outsourced provider. Members will be able to contact the team easily and speak with the people they know. We’ve agreed with Co-op that we’ll progressively enhance the services we provide – for example by improving the journey from work to retirement – rather than change them overnight.”
IGG, as Chair of the Trustee, said: “It has been a really collaborative process working with the in-house team, the Co-op Group and First Actuarial to make this transition smooth and seamless for both members and colleagues. Huge thanks to everyone involved.”