For immediate release – 9 December 2011
NOW: PENSIONS ANNOUNCES FIRST CUSTOMER AHEAD OF AUTO-ENROLMENT. The Retail Data Partnership Ltd to join the NOW: Pension Trust on 1st January 2012.
A week after forming the NOW: Pension Trust (an independent multi-employer trust) today announces The Retail Data Partnership Ltd as its first customer and the paperwork is being finalised with some other customers. The Retail Data Partnership will implement its pension scheme with NOW: Pensions from 1 January 2012.
Morten Nilsson Chief Executive of NOW: Pensions, said: “One of our key aims is to make it as simple as possible for employers, large and small, to offer pensions to their employees, and our solution takes the burden out of administering workplace pensions. We are delighted to be working with Stephen Burnett and the Retail Data Partnership Ltd, the first of what we hope to be many more customers in the UK over the coming months.”
Stephen Burnett, Chief Executive Officer of Retail Data Partnership Ltd said: “Whilst we’re a small company with just 19 employees, I firmly believe that it’s important to offer employees access to a good pension, and I have been considering the options for a while. We felt NOW: Pensions offered the best option to suit our business – a high performance, low cost pension scheme that was both simple for us to implement and easy for our employees to understand. Our aim is to ensure our employees have access to the safest and best performing scheme available and we look forward to working with NOW: Pensions.”
NOW: Pensions is committed to developing a better workplace pensions provision in the UK by offering a simple, systematically risk managed, cost efficient and high performance pension product that delivers better retirement savings for UK employees. With over 45 years experience providing Denmark’s working population with stable and consistent pensions returns, NOW: Pensions is set to transfer the knowledge acquired in Denmark to the UK pension market ready for auto-enrolment in 2012.
Nilsson concluded: “Auto-enrolment aims to ensure all employees in the UK are provided with a pension in retirement. We cannot stress enough the dire impact that high costs and poor performance has on a person’s pension pot and that’s why we are committed to providing employers and employees with value for their money.”
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For further information:
Shirley Hatherton / Jennifer Stevens / Pippa Gibb
Tel: +44 207 294 3615 / +44 7711 142 147
Notes for editors:
NOW: Pensions is a new multi employer trust, which will be operational from 1 January 2012. The investments will be managed by NOW: Pensions Investments, a subsidiary of ATP in Denmark and the administration will be carried out by Paymaster, an established UK third party administrator.
The NOW: Pension Trustee Directors, whose role is to safeguard the interests of members, comprises well-known industry figures with different areas of expertise:
- Imelda Walsh, former Group HR Director of Sainsbury’s
- John Monks, member of House of Lords and former General Secretary of ETUC and TUC
- Christopher Daykin, former Government Actuary
- Nigel Waterson, former Shadow Pensions Minister
- Lars Rohde, CEO of ATP Group
The ATP Group
Arbejdsmarkedets Tillaegspension (ATP) / Danish Labour Market Supplementary Pension is a statutory pension fund. It was established as an independent entity in 1964 with the objective of ensuring a greater retirement income for the Danish population. ATP has since developed to become the largest pension fund in Denmark. Together with the tax-financed basic state pension, ATP provides basic income security in old age for the Danish population.
ATP covers almost the entire Danish population representing 4.7 million members and 160,000 employers. In addition to the ATP Scheme, the ATP Group administers a number of pension and social insurance schemes, including several for the Danish state.
The ATP Group assets amounted to approximately DKK 554 billion (GBP 65bn) and DKK 75 billion (GBP 8.9bn) reserves at 30 September 2011. ATP invests in a wide variety of assets globally. Investment categories are broadly: equities, interest rates, credit, inflation and commodities.