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Now: Pensions rejects sale rumours and eyes acquisitions

Chief executive also admits to delays in processing contributions for a “small percentage” of clients

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Now: Pensions chief executive Morten Nilsson

Now: Pensions has been attending meetings with potential acquisition targets, Money Marketing understands, as it dismisses market speculation it is up for sale.

Several sources have told Money Marketing the business is up for sale, but the auto-enrolment provider, an offshoot of Danish pension company ATP, has reiterated its commitment to the UK market.

A spokeswoman for Now: Pensions says: “As one of the largest and most successful auto-enrolment providers, it’s easy to see why we might make an attractive acquisition.

“But the rumours that have been circulating have no foundation and are pure speculation. We are executing a long-term business plan and remain fully committed to the UK market.”

However, Money Marketing understands Now: Pensions has had meetings about making its own acquisitions, with potential suitors presented to the business but not pursued because they were not the right fit.

Separately, the organisation has admitted experiencing delays in processing contributions.

Chief executive Morten Nilsson says: “Largely as a result of our change of third party administrator, we have experienced some delays processing contributions for a small percentage of clients.

“We fully accept that getting these schemes up to date and resolving these historic issues has taken longer than it should due to the complexity of some of the cases, the poor quality data that was sometimes involved and the systems used.”

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