Wikipedia

NOW:Pensions

NOW: Pensions is the 3rd biggest master trust in the UK serving over 1.7 million employees.[1]

NOW: Pensions
Company typePrivately held company
IndustryFinancial Services
Founded2011
ServicesDefined contribution (DC) pension funds
Websitewww.nowpensions.com

History edit

The Pensions Act 2008 established new duties which require employers to automatically enrol eligible workers into a workplace pension plan that meets certain minimum standards. NOW: Pensions was set up by ATP of Denmark for employers requiring a scheme to fulfil their duties under the Act. ATP launched Now:Pensions in early 2012, Morten Nilsson was headed the group as CEO.[1]

During the three years leading up to June 30, 2017 Now:Pensions achieved a 2.8 percent annualized return, which was significantly less than the returns achieved by almost all of its competitors during the same time.[1]

In November 2017 the Pensions Regulator fined the trustees of Now:Pensions £50,000 for administration problems. Followed by a fine for £20,000 in February 2018.[1][2]

In February 2019 The Cardano Group acquired Now:Pensions from ATP[3] after Now:Pensions ran into multiple administration problems and years of poor performance.[1]


See also edit

References edit

  1. ^ a b c d e Greenwood, John (22 February 2018). "Now:Pensions put up for sale". Corporate Adviser. Retrieved 27 November 2019.
  2. ^ "TPR fines trustee of NOW: Pensions and sets deadline by which problems must be fixed". The Pensions Regulator.
  3. ^ "The Cardano Group acquires NOW: Pensions". ATP. Retrieved 27 November 2019.

External links edit

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