For immediate release: Tuesday, 5 November 2013
The West Cornwall Pasty Company has appointed NOW: Pensions, the independent multi-employer trust, as the provider of its workplace pension under auto enrolment.
From November 2013, NOW: Pensions will be responsible for delivering workplace pensions for The West Cornwall Pasty Company’s 400 employees who are eligible for auto enrolment.
The West Cornwall Pasty Company is the market leading brand with over 70 stores selling over four million top quality handmade pasties a year, making it the UK’s largest specialist retailer of Cornish pasties.
Lowri Eastgate, Head of HR, West Cornwall Pasty Company said: “Finding the right partner to deliver auto enrolment was imperative for us. We wanted a workplace pension that was robust and cost effective but most importantly was easy for our employees to understand. With NOW: Pensions we found the perfect fit.”
Morten Nilsson, CEO of NOW: Pensions said: “The West Cornwall Pasty Company is one the country’s most recognised brands and we are delighted to be working alongside them as they implement auto enrolment across their network of stores and head office.”
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For further information:
Tel: +44 203 640 9075
Tel: +44 207 294 3615
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 one of the largest pension funds in Europe and 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 4.8 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 602bn/approximately GBP 67.5bn at 30 June 2013. ATP invests in a wide variety of assets globally. Investment categories are broadly: equities, interest rates, credit, inflation and commodities.