Hogan Lovells Advises ATP on Establishment of NOW:Pensions Trust
12 September 2011
LONDON, 12 September 2011 - Hogan Lovells has advised major Danish pensions scheme ATP on the establishment of NOW:Pensions, an independent multi-employer trust which launched today, Monday 12 September.
NOW:Pensions will be open for business from early 2012 with the aim to deliver greater retirement income for the UK population in the wake of auto-enrolment coming into force in 2012. ATP will share its long-standing experience of delivering low-cost pensions to make it easier for UK employers to comply with auto-enrolment and provide employees with easy to understand, serviced, quality pensions that deliver long-term stable returns.
ATP is a major Danish organisation with over 4.7 million members in Denmark and 45 years’ experience of successfully managing and administering Denmark's largest pension scheme.
Hogan Lovells advised ATP on the structuring of the scheme and ancillary documentation. The team advising ATP was led by partner Duncan Buchanan, supported by partner Dominic Hill and Of Counsel Penny Pilzer.
Commenting on the launch of NOW:Pensions Duncan Buchanan said:
"We are pleased to have advised ATP on this important innovation in the pensions sector. Auto-enrolment is a significant development in pension provision in the UK and the source of many queries which, thanks to the establishment of NOW:Pensions, should be easily resolvable."
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