Now: Pensions has been fined £70,000
The trustee of master trust Now: Pensions has been fined £70,000. They have also been given a set of stringent deadlines to fix long-running pension scheme issues. This was announced by the Pensions Regulator (tPR) today.
Their CEO maintains that they “remain very much open for business”. However, in July 2017 NOW: Pensions voluntarily removed themselves from the Master Trust Assurance list for Auto Enrolment providers. This was after a discussion with tPR surrounding its historic contribution issues.
Read more about the Now: Pensions being fined here.
Update: Now: Pensions is up for sale.