Watchdog fines Now Pensions trustee £70,000

The master trust will be required to act and resolve its persistent failings, which have occurred over a number of years and have led to some members' savings not being collected from employers and invested. Now Pension Trustee has been fined £70,000 for its failings and had been issued with an improvement notice. A third-party notice has also been issued to the trust manager, Now Pensions. Speaking on TPR's decision, executive director of frontline regulation Nicola Parish (pictured), said: "This package of measures, together with those voluntarily taken by the trustee, should ensure...