# Greencore Group Pension Fund Greencore Group Pension Fund is a Pension Fund based in Dublin, Ireland. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Dublin, Ireland - **Region:** Europe - **Address:** Dublin, Co. Dublin, Ireland - **Assets under management:** Undisclosed - **Website:** www.greencore.com - **LinkedIn:** https://www.linkedin.com/company/greencore ## Regulatory record - **Reports private funds:** No ## About The scheme operates as the occupational pension arrangement for Greencore Group plc, a leading UK and Irish convenience food manufacturer formed through the merger of Irish Sugar and British Sugar's remaining operations. The fund represents over 4,000 members across its Irish and UK defined benefit and defined contribution sections. In 2022, the Irish defined benefit scheme completed a landmark £133 million bulk annuity transaction with Irish Life, removing longevity and investment risk for that segment of the membership. The investment strategy reflects a mature, de-risking posture. The Irish defined benefit section holds a bulk annuity buy-in policy with Irish Life. The UK defined benefit scheme retains direct exposure to a portfolio of industrial properties held through the Greencore Convenience Foods Limited Partnership and contingent commercial property assets in Ireland. This three-pillar structure — insured annuities, direct real estate, and private credit — is characteristic of a maturing pension fund transitioning away from equity-risk-heavy portfolios. Fintan O'Reilly serves as Pension Manager, tasked with the day-to-day management and scheme secretariat functions. The trustees maintain active ties to the Irish Association of Pension Funds, engaging in training and committee work within the broader institutional investor community. Beyond the fund itself, the sponsor, Greencore Group plc, is a long-standing philanthropic partner of FareShare, the UK food redistribution charity — a relationship that connects the pension's corporate backer to a broader network of corporates and institutions. The fund stands as a corporate pension oversight entity rather than a pooled fiduciary manager. Trustee governance is separated from sponsor operations, with Allan Whalley chairing an independent board. This structure places investment decisions — and the selection of insurers and asset managers — in the hands of a group of professional trustees operating at arm's length from the parent company, a governance posture that remains less common among mid-sized corporate schemes in Ireland. ## Sectors - Real Estate - Private Credit ## People - Allan Whalley — Chair of the Trustees - Fintan O'Reilly — Pension Manager ## Questions ### Who runs investment decisions at the Greencore Group Pension Fund? The trustee board, chaired by Allan Whalley, is responsible for investment governance and strategy. Fintan O'Reilly, the Pension Manager, handles operational oversight and secretariat functions. The trustees operate independently from the sponsoring employer, Greencore Group plc, and select external insurers and asset managers under a professional governance framework. ### How is the Irish defined benefit scheme's risk managed? In 2022, the Irish defined benefit section completed a £133 million bulk annuity buy-in with Irish Life. This transaction transfers longevity, interest rate, and investment risk for covered members to an insurance company, effectively matching assets to liabilities for that segment of the scheme. ### What real assets does the pension fund hold directly? The UK defined benefit section holds industrial property through the Greencore Convenience Foods Limited Partnership, alongside contingent commercial property assets in Ireland. These direct holdings represent illiquid, income-generating exposures retained after the Irish scheme's annuity buy-in. ### Does the fund participate in pooled pension structures or operate independently? The Greencore Group Pension Fund operates as a standalone occupational scheme with its own independent trustee board. It is not part of a multi-employer master trust or pooled fiduciary vehicle, maintaining full governance autonomy over insurer and manager selection. ### How is the fund related to Greencore Group plc's operations? Greencore Group plc is the sponsoring employer and ultimately responsible for funding the scheme. The group, a FTSE 250 convenience food manufacturer, also maintains a philanthropic partnership with FareShare, the UK food redistribution charity — a separate corporate activity from the pension fund's investment operations. ## Related profiles - [UA Local 125](https://altss.com/profile/ua-local-125) - [Svenska Röda Korset](https://altss.com/profile/svenska-r-da-korset) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/greencore-group-pension-fund Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology