The £2.9bn (€4.7bn) UK-based J Sainsbury Pension Scheme has appointed Legal & General as its stakeholder provider, following a decision by the fund to close its defined benefit (DB) scheme to new members.

In 1998 the pension fund decided it would close its DB plan and switch to a stakeholder provision early in 2002. L&G already manages the fund's group personal pension plan, and won the mandate after competition from Norwich Union, Prudential, and Standard Life Investments.