For immediate release: 25 February 2013
Award-winning multi-specialist recruitment consultancy set to auto-enrol 20,000 agency workers into NOW: Pensions Trust from March 2013
Randstad has appointed NOW: Pensions, the independent multi-employer trust, to provide the pensions scheme for its agency workers. From March 2013, NOW: Pensions will be responsible for delivering workplace pensions for its 20,000-strong agency workers who are eligible for auto-enrolment.
Randstad is one of the UK’s leading recruitment agencies with a national network of offices and a 50-year track record of matching talented job seekers to organisations in a wide range of business areas. It provides an extended range of specialist recruitment services, helping an array of organisations and employees achieve their business goals and career ambitions. Whether recruiting one temporary hire or conducting large scale recruitment campaigns, the company places thousands of people into work every year in the UK.
Ian Naylor, Legal Director of Randstad, commented: “Delivering specialist knowledge and expertise across a wide range of business areas is key to what we do, and we pride ourselves on our abilities to make the perfect match for both clients and workers. Our decision to appoint NOW: Pensions came as a result of wanting a quality workplace pension scheme that is structured, simple and easy for us to implement”.
Morten Nilsson, CEO of NOW: Pensions, added: “Randstad is dedicated to delivering expert recruitment solutions cross a wide range of sectors in which it operates. Similar to ATP, the company has a rich heritage spanning over five decades, and it consistently aims to improve and innovate its services to outstrip the competition to offer the best possible service for its clients. Randstad is a prime example of a company being well prepared for the future; looking at the their staging dates and choosing the provider that best suits their needs to ensure their workforce has access to a quality pension scheme that adds value without being overly complicated.”
NOW: Pensions is committed to developing a better workplace pension 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 and agency workers across all income brackets. With over 45 years’ experience providing Denmark’s working population with stable and consistent pension returns, NOW: Pensions is transferring the knowledge acquired in Denmark to the UK pension auto-enrolment market.
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For further information:
Shirley Collyer / Jennifer Stevens / Maddy Morgan-Williams
Tel: +44 207 294 3615 / +44 7711 142 147
Notes for editors:
Randstad is a multi-specialist recruitment consultancy with a national network of offices and a top five position in the UK. They aim to be their clients’ and candidates’ number one recruitment partner through consistently demonstrating their knowledge and expertise in making the perfect match.
Forged over fifty years, Randstad’s has been matching talented job seekers to organisations across the UK and overseas in a wide range of specialist areas including accounting and financial services, construction, healthcare, IT, legal, human resources and business support.
Randstad is the key sponsor of the Williams F1 team and the Clipper. High resolution images are available on request.
NOW: Pensions www.nowpensions.com
NOW: Pensions is a multi-employer trust. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP in Denmark and the administration is 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:
- Nigel Waterson, former Shadow Pensions Minister
- 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
- Win Robbins, former Head of European Fixed Income at Barclays Global Investors
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, charging 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.
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 total assets under management amounted to DKK 624 billion/approximately GBP 68.4bn (i.e. assets: DKK 540 billion/GBP 62.3 billion + reserves: DKK 84 billion/GBP 9.2bn) at 31 December 2012. ATP invests in a wide variety of assets globally. Investment categories are broadly: equities, interest rates, credit, inflation and commodities.