Workplace pensions provider NOW: Pensions has today announced it has enrolled 1.5 million members – just six years on since accepting its first member. The pension scheme provider has also signed up its 30,000th employer.
The 1.5 millionth member is employed at Sealclean, a local laundry and dry-cleaning company, established in 1881, based on Sovereign Way, Tonbridge, Kent.
From a standing start and with no existing client base, NOW: Pensions has grown to become the third largest master trust with more than £560 million* in assets under management.
NOW: Pensions is a company wholly owned by Danish pension scheme ATP, one of Europe’s largest pension funds, launching in the UK in 2011.
Peter Johnston, Managing Partner, Sealclean said: “As an employer, it’s a legal requirement to offer a workplace pension – but we see it as much more than that.
“We’re happy that our staff are already benefiting from saving for their future retirement and we chose NOW: Pensions as our workplace pension provider for their simple, easy to understand language to share with staff, especially important with the upcoming minimum contribution rises in April!”
Troy Clutterbuck, Interim CEO NOW: Pensions said: “In a very short space of time, NOW: Pensions has gone from being a complete unknown to one of the largest workplace pension providers in the UK.
“1.5 million members and 30,000 employers is a big achievement for us and it was great to mark the occasion with Sealclean. We hope they’ll continue to offer their staff our workplace pension scheme for many years to come!”
We believe the way ahead lies in quality work, sensibly priced, too many laundries compete on price rather than quality. For Sealclean customers, attention to detail is important. Finishing is mostly done by hand; few laundries will go to such trouble.
We have modernised over the years so we can meet the demands of today’s market meaning we offer our customers the highest level of service, whether they be domestic or commercial.