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ATP to set up scheme which will parallel NAPF’s super-trust

Danish pension firm ATP will launch a collective defined-contribution scheme similar in structure to the super-trust proposed by the National Association of Pension Funds.

The NAPF defines a super-trust as a big multi-employer defined-contribution pension scheme that seeks to utilise economies of scale to reduce costs for members such as Nest.

In its Vision For Pensions paper, published in March 2010, the NAPF said that the low cost of super-trusts could add around 30 per cent to the eventual size of indiv-iduals’ pensions.

Former Conservative Sha-dow pensions minister Nigel Waterson will be a trustee of the ATP scheme, due to launch later this year, which will aim to provide a savings vehicle for low to middle-income earners ahead of automatic enrolment.

Waterson says investments will continue to be managed from ATP’s Danish headquarters although the firm will look to appoint a UK-based administrator.

He says: “ATP has a track record of achieving returns of around 7 per cent year after year at a very low cost and it has five million members in Denmark and 160,000 employers, so it is used to doing it.”

Intelligent Pensions IFA David Trenner says: “It is hugely important that Nest works. People trying to market alternatives on the back of it seems to me to be the wrong thing to do.”

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