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Adecco Group has appointed NOW: Pensions to provide its workplace pension scheme under auto-enrolment from March, covering 23,000 of the firm’s employees. Adecco has chosen the independent multi-employer trust, following staffing firms Randstad and Blue Arrow.
The auto-enrolment pension scheme was launched in October 2012, giving employers new legal duties to automatically enrol certain workers into a qualifying workplace pension scheme. Up to 10 million people are expected to be eventually enrolled in what has been hailed as one of the biggest pension revolutions in recent years.
Matthew Johnson, head of compensation and benefits at Adecco Group UK & Ireland, said: “With the face of the pensions’ landscape changing, it was important for us to select the right pension scheme in order to meet our auto-enrolment obligations.
“Opting for a defined contribution multi-employer trust, in the form of NOW: Pensions, was therefore a straight forward choice given it is overseen by a Board of Trustees whose role is to ensure good governance and safeguard the best interest of its members. Furthermore, its simple design means the pressure is taken off us as the employer and avoids costly administration charges, whilst removing the burden of choice and ensuring the best possible retirement outcome for our employees.”