For immediate release: Wednesday 9 September 2015
Workplace pensions provider NOW: Pensions is to open a second office in Nottingham in November with the creation of up to 250 new jobs over the next two years as it prepares for the next phase of its growth.
Since entering the UK market in 2011, backed by Danish pension fund ATP, NOW: Pensions has grown rapidly. It is now one of the UK’s largest auto enrolment providers with over 9,000 clients and nearly 550,000 members.
This growth has been achieved without the benefit of an existing client base, existing awareness or UK government sponsorship and NOW: Pensions is the only new private entrant into the auto enrolment marketplace.
The Nottingham office will be NOW: Pensions’ second UK site – in addition to its head office in London – and will play an integral role in the future growth of the business. NOW: Pensions will be recruiting staff in a number of areas including client support, technical support, sales, HR and IT.
Morten Nilsson, CEO of NOW: Pensions said: “The biggest test for auto enrolment is still to come. While over 5 million people have already been auto enrolled, just 3% of firms have had to comply with the legislation.
“From day one, we’ve always said that we’ll accept any and every employer into our scheme and we are anticipating huge demand for our services in 2016. To meet this demand and maintain our service levels, we need to expand our operations.
“Experience has taught us that employers require considerable support with the introduction of their schemes. Auto enrolment is complicated and many of the employers who’ll be tackling the legislation next year will have little or no experience of pensions. Many of the people we’ll be hiring in Nottingham will be providing front line customer support.”
Councillor Jon Collins, Leader of Nottingham City Council, commented: “We welcome the news that NOW: Pensions will be establishing an office here in Nottingham. The city has a great reputation in the sector and combines a heritage of financial services industry with some of the most innovative young businesses working in the field today and the arrival of NOW: Pensions will enhance this mix. Nottingham’s investment in infrastructure, skills base and operational costs are ideal for businesses that are overheating in London. Working closely with the company, we are able to ensure that the benefit of this new investment will be felt by local people, with new jobs and opportunities on offer now and in the future.”
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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.