Lookers Pension Plan

Lookers Pension Plan

The Lookers Pension Plan originated as the retirement scheme for Lookers plc staff. It merged with the Dutton Forshaw Group Pension Plan in 2018. The combined plan holds assets that included £218 million as of 2017. Investment implementation uses external managers for growth assets. Confirmed mandates include LGIM Developed Balanced Factor Equity Index Fund, Cardano Global ESG Transition Equity Fund, BlueBay Total Return Diversified Credit Fund, PIMCO Global Investment Grade Credit ESG Fund, Cardano Global Sustainable Equity Fund and LGIM Multi Factor Equity Fund. The plan also maintains two commercial real estate SPVs incorporated to hold property assets. Geographic exposure centers on the United Kingdom with additional global equity and commodity components. Fiduciary management is provided by Cardano Risk Management Limited since 2023. Actuarial advice comes from Aon Hewitt Limited. Legal counsel is supplied by Pinsent Masons LLP and audit services by Crowe UK LLP. The plan participates in the Pensions and Lifetime Savings Association. The structure separates plan governance through Lookers Pension Plan Trustees Limited from the sponsoring employer Lookers plc, now under Global Auto Holdings Limited following the 2023 acquisition. Funding arrangements are documented in a memorandum of understanding with the parent.