Danish pension fund launches rival to NEST

clock

Danish pension fund ATP has announced the launch of an independent multi-employer trust pension to rival the National Employment Savings Trust (NEST.

NOW Pensions will focus on delivering a greater retirement income for the UK population than current provision. The scheme will be open for business from early 2012, just before auto-enrolment begins. ATP head of international relations Morten Nilsson will become chief executive of NOW Pensions. Nilsson said: "Auto-enrolment is a very important development in pension provision in the UK. "It is vital for it to be a success and offer both employers and employees alike a good pension outcome based on cost efficiency, stable long term investment returns and a strong and member cent...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

IHT on pensions to cause 'operational complexity and risk' for providers

IHT on pensions to cause 'operational complexity and risk' for providers

Expected to lead to delays in payments to beneficiaries

Isabel Baxter
clock 31 January 2025 • 3 min read
DB transfer advice slows since FCA's 2020 crackdown

DB transfer advice slows since FCA's 2020 crackdown

Many firms have stopped offering DB advice, regulator finds

Isabel Baxter
clock 30 January 2025 • 2 min read
SSAS and divorce: Everything advisers need to know

SSAS and divorce: Everything advisers need to know

'It's estimated that only 4% of divorces include a pension'

Caitlin Southall
clock 30 January 2025 • 5 min read