Pension Fund Risk Manager of the Year - J Sainsbury

The Risk Awards 2007

J Sainsbury has been in the wars over the past few years: overtaken by arch-rival Tesco as the UK's favourite supermarket, its share price halved in just 11 months to March 2003; and to top it all, the rating agencies threatened to downgrade the company, partly because its corporate pension pot was £375 million in the red.

Yet, in the midst of this, the retailer has managed to bring its ailing pension fund back to life. Under IAS 19, an accounting standard that requires UK companies to