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NOW: Pensions is the 3rd biggest master trust in the UK serving over 1.7 million employees. [1]
Company type | Privately held company |
---|---|
Industry | Financial Services |
Founded | 2011 |
Services | Defined contribution (DC) pension funds |
Website | www.nowpensions.com |
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]
![]() | This article has multiple issues. Please help
improve it or discuss these issues on the
talk page. (
Learn how and when to remove these template messages)
|
NOW: Pensions is the 3rd biggest master trust in the UK serving over 1.7 million employees. [1]
Company type | Privately held company |
---|---|
Industry | Financial Services |
Founded | 2011 |
Services | Defined contribution (DC) pension funds |
Website | www.nowpensions.com |
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]