For immediate release: Wednesday 11 November 2015
Workplace pensions provider NOW: Pensions this week signed up its 10,000th customer – Young & Mair, a pharmacy in Gallowgate Glasgow.
With support from local accountancy firm Wylie & Bisset, Young and Mair selected NOW: Pensions as its auto enrolment pension provider for its eight employees.
Backed by Danish pension fund ATP, NOW: Pensions entered the UK market in 2012 with a high quality, value for money workplace pension designed specifically with the auto enrolment market in mind.
Pauline Paterson, Pharmacy Manager, Young & Mair said: “We were quite nervous about tackling auto enrolment and didn’t know where to start. Wylie & Bisset provided great support helping us to understand what we needed to do and the different pension providers we could choose. NOW: Pensions offered something which was simple for us to administer and easy for our staff to understand – it was an easy decision.”
Lorna Wyllie Partner at Wylie & Bisset said: “Growing numbers of small firms are going to have to comply with the new auto enrolment legislation. There’s a lot to think about and it pays to plan ahead as much as you can. Many small business owners are stretched for time and auto enrolment can come low on the priority list so it can pay to get some expert help.”
Morten Nilsson, CEO of NOW: Pensions said: “The 10,000th customer is a significant milestone for us and one we were keen to celebrate with Young & Mair. We came to the UK three years ago with the aim of providing companies with across the country with better workplace pensions. From a standing start, we’ve made a significant dent in the market and plan to continue to build on that success.”
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For further information:
Tel: 0203 640 9075
NOW: Pensions www.nowpensions.com @nowpensions
NOW: Pensions is an independent, multi-employer trust serving thousands of employers and hundreds of thousands of employees from a wide range of sectors.
A subsidiary of one of Europe’s largest pension funds, Danish pension scheme ATP, NOW: Pensions offers a simple and cost effective workplace pension solution direct to employers and via advisers and the payroll sector.
In April 2013, NOW: Pensions became the first master trust to attain the NAPF’s new PQM Ready Standard. The benchmark shows employers that NOW: Pensions is a well governed pension scheme with low charges and good member communications.
In January 2015, NOW: Pensions achieved independent assurance of scheme quality in accordance with the new master trust assurance framework (AAF02/07) introduced by The Pensions Regulator (TPR) in conjunction with the Institute of Chartered Accountants in England and Wales (ICAEW).
The NOW: Pension Trustee Directors, whose role is to safeguard the interests of members, comprises well-known industry figures with different areas of expertise:
- Jocelyn Blackwell, founding partner Dunnett Shaw
- Christopher Daykin, former Government Actuary
- John Monks, member of House of Lords and former General Secretary of ETUC and TUC
- Win Robbins, former Head of European Fixed Income at Barclays Global Investors
- Nigel Waterson, former Shadow Pensions Minister
Charges are just £1.50 per month administration charge (reduced administration charge of £0.30 – £1.00 to be applied during auto enrolment phasing for lower earners) plus a 0.3% annual product investment management charge, with no hidden charges.