For immediate release: 31 July 2013
SCOTTISH BAKERS SELECTS NOW: PENSIONS AS ITS PREFERRED PROVIDER FOR AUTO ENROLMENT
Scottish Bakers, the trade association which represents and promotes the interests of 280 Scottish Bakers has selected workplace pensions’ provider NOW: Pensions as its preferred provider for auto enrolment.
Established in 1891, Scottish Bakers aims to be an integral part of each member’s business operation by providing a range of specialist support services for bakers of all sizes. It provides a valuable source of advice, information, assistance and skills development for bakers throughout Scotland.
Alan Clarke, Chief Executive of Scottish Bakers said: “Auto enrolment is high on our members’ agendas and a topic which we are increasingly being asked for support and guidance on. The new legislation has implications for companies of all sizes and we were keen to find a partner who could guide all our members, whether large or small, through the auto enrolment maze.
“We selected NOW: Pensions as our preferred provider as we felt the simplicity, cost-effectiveness and ease of implementation of its proposition would appeal to the needs of our membership.”
Morten Nilsson, CEO of NOW: Pensions said: “As auto enrolment gathers momentum, companies across all sectors are increasingly turning to their trade associations for support.
“Scottish Bakers has taken a proactive approach to the challenge of auto enrolment and we look forward to supporting its members through every step of the process.”
– Ends –
For further information:
Tel: +44 203 640 9075
Jennifer Stevens / Victoria Leyton
Tel: +44 207 566 9723 / +44 207 294 3620
Notes for editors:
NOW: Pensions www.nowpensions.com
NOW: Pensions is a multi-employer trust. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP inDenmark, and the administration is carried out by Paymaster, an establishedUKthird 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 pension provision in theUKby offering a simple, high quality, cost efficient and systematically risk managed pension product that delivers better retirement savings forUKemployees. With over 45 years’ experience providingDenmark’s working population with stable and consistent pensions returns, NOW: Pensions is set to transfer the knowledge acquired inDenmarkto theUKpension market. 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.
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.
The ATP Group www.atp.dk
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 inDenmark. 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.