We compute the density and velocity power spectra at next-to-next-to-leading order taking into account the effect of time-and scale-dependent growth of massive neutrino perturbations as well as the departure from Einstein-de-Sitter (EdS) dynamics at late times non-linearly. We determine the impact of these effects by comparing to the commonly adopted approximate treatment where they are not included. For the bare cold dark matter (CDM)+baryon spectrum, we find percent deviations for k 0.17h Mpc −1 , mainly due to the departure from EdS. For the velocity and cross power spectrum the main difference arises due to time-and scale-dependence in presence of massive neutrinos yielding percent deviation above k 0.08, 0.13, 0.16h Mpc −1 for m ν = 0.4, 0.2, 0.1 eV, respectively. We use an effective field theory (EFT) framework at two-loop valid for wavenumbers k k FS , where k FS is the neutrino free-streaming scale. Comparing to Quijote N-body simulations, we find that for the CDM+baryon density power spectrum the effect of neutrino perturbations and exact time-dependent dynamics at late times can be accounted for by a shift in the one-loop EFT counterterm, ∆γ 1 −0.2 Mpc 2 /h 2 . We find percent agreement between the perturbative and N-body results up to k 0.12h Mpc −1 and k 0.16h Mpc −1 at one-and two-loop order, respectively, for all considered neutrino masses m ν ≤ 0.4 eV.