Danish group ATP has launched NOW Pensions, a new multi-employer pension scheme that will provide a rival service to the Government’s pension scheme NEST. ATP intends the new scheme to be operating from 1 January 2012 and has announced that its charges will be “highly competitive”. The majority of scheme investments will be managed in-house by NOW Pensions Investments, a subsidiary of ATP in Denmark, and some by third-party fund managers.

Xafinity Paymaster will be the new scheme’s administrator, having worked with ATP for a number of years.

ATP has more than 4.7 million pension members in Denmark and 45 years’ experience managing and administering the largest pension scheme in Denmark.