View more on these topics

Danish pension firm ATP to challenge Nest

Danish public pension provider ATP will challenge Nest this year with the UK launch of a product targeting low to middle income earners, this week’s Money Marketing reveals.

ATP head of international operations Morten Nilsson says the firm has consulted with former Conservative Shadow pensions minister Nigel Waterson ahead of the launch.

He refused to confirm whether Waterson will take a permanent role at the firm.

Nilsson says: “We have been looking at the UK with more and more interest, because there is a need for simple, cost-efficient pension products that perform. Not many companies are in that space in the UK offering good pension products to people with regular or low incomes. We are hoping to be ready to launch something by the end of this year.”

ATP was a bidder for the Nest administration contract which was handed to Tata Consultancy Services. Nilsson says ATP pulled out of the deal because “the commercials were not right”.

ATP’s decision to launch a product in the UK follows a report by Hermes Focus Asset Management chairman David Pitt-Watson calling for a limited number of private sector pension providers to become “approved default providers” like Nest.

He used Holland and Denmark as examples of countries which have successfully delivered low-cost collective pension provision.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com