View more on these topics

Now: Pensions boss Morten Nilsson exits

Nilsson founded the company in 2011

Morten-Nilsson-outside-in-2011-700.jpgNow: Pensions chief executive and founder Morten Nilsson has left the business with chief financial officer Troy Clutterbuck taking over on an interim basis.

Nilsson founded the auto-enrolment provider in 2011.

A statement from the company says the board decided it was the right time to change the executive management as the first phase of auto-enrolment comes to an end.

Last month Now: Pensions withdrew from the master trust assurance list of providers for auto-enrolment while it resolves issues with processing contributions.

Money Marketing also reported in July that Now: Pensions had experienced delays in processing contributions for a “small percentage” of clients, largely due to a change in its third party administrator.

Clutterbuck joined the business in August 2016 from Jardine Lloyd Thompson Group where he was previously chief financial officer for UK employee benefits.

Chairman of the board of trustees Nigel Waterson says: “Morten Nilsson has made a huge contribution not only to the success of Now: Pensions, but to the whole automatic enrolment project in the UK. He leaves an indelible legacy in the UK pensions sector.”

Recommended

Robo firms struggle to enter auto-enrolment market

Online wealth managers have struggled to enter the UK auto-enrolment market because of high costs and legislation and are now looking elsewhere for opportunities. Moneyfarm chief financial officer Paolo Savini Nicci tells Money Marketing the firm has no plans to get involved in auto-enrolment, because of a “crowded” marketplace, relatively low account values and high costs. […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Robert Milligan 25th August 2017 at 1:18 pm

    That’s the problem with Employee’s at Product Providers, maximise the Benefits, run the Contract term, and bugger off. Indelible Legacy Indeed!!!!!! and we IFA’s will continue to pick up the shambles Known as Auto Enrollment

  2. As names go, Troy Clutterbuck is almost on a par with Biggus Dickus.

Leave a comment