The ã1.9bn (â¬2.5bn) pension fund of UK supermarket group Wm Morrison has become the latest to shift its investments from active managers to passive market tracking indices, as retirement schemes increasingly look to save costs.
Morrison, which reported annual results today, said it paid £100m (â¬131m) last year into its two final salary schemes, the Morrison Pension Scheme and the Safeway Scheme. Morrison acquired competitor Safeway in 2004.
