Workplace pensions provider Now: Pensions has appointed Dalriada Trustees to its board, after discussing the matter with The Pensions Regulator (TPR).
According to a spokesperson at the regulator, this “a positive step that demonstrates a firm commitment to addressing” The Pensions Regulator’s concerns.
Last July, Now: Pensions withdrew from the master trust assurance list of providers for auto-enrolment, as it worked to resolve historic issues processing contributions for a small percentage of clients.
The Pensions Regulator's spokesperson said: “We will continue to work with Now: Pensions and the trustees to ensure that the benefits of current and prospective members are protected, both now and in the future.”
According to Nigel Waterson, chair of trustees at Now: Pensions, the provider is appointing Dalriada Trustees primarily to harness their expertise in resolving its “remaining historic data issues as swiftly and efficiently as possible”.
He said: “They will provide a fresh and very welcome perspective.
“Strong, independent governance is of the utmost importance to us, and Dalriada will help us ensure that we are carrying out all of our duties with absolute rigour.”
The provider has also appointed Joanne Segars, ex-chief executive of Pensions and Lifetime Savings Association (PLSA), as a member of its board of trustee directors.
Ms Segars, currently a member of the board of the Environment Agency and chair of the Environment Agency Pension Fund (EAPF), will join later in the year.
She will be replacing Lord John Monks, who is retiring.
Mr Waterson said: “Her [Ms Segars] integrity, independence and commitment to ensuring the best outcomes for members make her the perfect choice for the trustee board and I look forward to welcoming her.”
maria.espadinha@ft.com
