Pensions firm fined

a FLOUNDERING pension firm has been fined and slammed by regulators for technology problems which meant thousands of savers’ cash went uninvested.

Now Pensions looks after the retirement schemes of 1.5m workers employed by 26,000 firms. But computer failings meant that tens of thousands of national insurance numbers and birth dates went missing from records.

Their monthly savings were not processed as a result, meaning they could potentially have fallen behind on their plans for retirement.

The Pensions regulator fined Now’s trustees £70,000.