Advising a £2bn pensions master trust

Eversheds Sutherland is appointed as sole legal adviser to NOW: Pensions Trustee Limited

Eversheds Sutherland has been appointed as the sole legal adviser to the Trustee of NOW: Pensions, a major master trust pensions provider with assets under management of £2bn.

NOW: Pensions is a UK workplace pensions provider, and the third largest auto-enrolment provider in the UK by number of members.

Eversheds Sutherland’s Pensions team involved in the appointment process included Francois Barker, Partner and Head of Pensions; Jon Walters, Partner; Amanda Small, Principal Associate; Patrick Harte, Associate; and were supported by financial services partner Richard Batchelor. The team’s knowledge of DC schemes, and the master trust market in particular, and the breadth and depth of experience across the full range of legal services were key factors in the appointment.

NOW: Pensions also reflected favourably on the team’s ethos and industry involvement.

Francois Barker, said:

“We are delighted to have been appointed as the legal advisers to the NOW: Pensions Trust, following a very rigorous selection process.  We are particularly pleased that the Trustee recognised our team approach, our wider involvement in making pensions law and policy, and our knowledge of the commercial master trust sector.  This is a very exciting time for the master trust sector and we are really pleased to be working with NOW as the scheme embarks on the next stage of its growth story.”

Joanne Segars, Chair of the Board of Trustees at NOW: Pensions, commented:

“The Eversheds Sutherland team has excellent experience of advising in the master trust sector, as well as in the pensions industry more broadly, and I am very pleased that we have appointed them as our legal advisers. Over the coming years, we expect to see significant growth as defined contribution schemes become the major source of UK pensions savings. We look forward to working with the Eversheds to continue to support our 1.8m members.