Now: Pensions CEO Morten Nilsson is to depart after six years in the role.

Nilsson founded the firm in the UK in 2011 and worked to establish NOW: Pensions as one of the UK’s leading auto-enrolment providers.

As the first phase of auto-enrolment reaches its completion, the company’s board has decided that now is the right time to make this change in executive management.

Replacing Nilsson, Troy Clutterbuck has been appointed as interim CEO. Clutterbuck has been with the company since August 2016 as CFO. He joined from Jardine Lloyd Thompson Group where he had a 15 year career and held a number of key roles including CFO UK employee benefits and commercial director Latin America and Canada.

The chairman of the board of trustees Nigel Waterson commented: “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.”

Last month Now: Pensions announced its decision to withdraw itself from the master trust assurance list of providers for auto-enrolment, while it works to resolve historic issues processing contributions for a small percentage of clients.

The company said the issues were “largely as a result” of a change of its third party administrator, which has resulted in delays processing contributions for a small percentage of clients. It stressed that it has an open and ongoing dialogue with the regulator regarding all aspects of the scheme.

It said it has kept The Pensions Regulator fully updated regarding these historic issues and accept that getting these schemes up to date 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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