Members Your annual benefit statement
Your annual statement gives you a yearly snapshot of your pension savings. It shows how much has been paid in, how the value of your investments has changed and how much your savings could be worth in future.
Your 2026 statement shows how much you had in your account on 31 March 2026. We’ll start sending statements in April 2026.
How to see your annual statement
We’ll send an email to your now:u mailbox with your annual statement attached. Log in to now:u to open your mailbox.
Look for the email titled 'Your annual statement'. If you don’t see it yet, don’t worry - it'll be delivered by June 2026. You’ll be able to download your benefit statement and print it, if you want to.
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Frequently asked questions
See all support for membersIt’s a summary of your pension savings.
Every year we send an email to your now:u mailbox with your annual statement attached. Log in to now:u and go to your mailbox. You’ll be able to download your annual statement and print it, if you want to.
Your annual statement covers the period between 1 April and 31 March each year. It tells you what your pension savings are worth at 31 March and how much they could be worth in the future.
Your annual benefit statement tells you:
- how much money you’ve built up in your pension savings
- how much you and your workplace have paid in
- how investment has affected the value of your pension savings
- the costs and charges that apply to your account
- an estimate of how much your savings might be worth at your planned retirement age
- what you could do to give yourself more money in the future
You’ll get an annual statement if you have pension savings in your now:pensions account as of the most recent 31 March.
We won’t give you a statement if you no longer have any now:pensions savings. This is usually because you’ve taken your money out of now:pensions or transferred your now:pensions savings to another pension scheme.
Yes. We’ve partnered with Pension Lab, an external provider, to make it easy for you to find other pensions and bring them in to us. To use Pension Lab, you’ll have to agree to share your personal details with them.
To get started, log in to now:u and go to Find and transfer. You’ll see the option to use Pension Lab. Once you’ve agreed to share your personal details with them, Pension Lab will prompt you to put in information about your other pensions. It’ll search for the pensions and add them to a pensions ‘dashboard’ for you.
You’ll then be able to transfer them in to us, if you want to. Pension Lab will tell you if any of your pensions can’t be transferred in to now:pensions.
Learn more about finding and combining your pensions here.
You can also transfer your pensions using now:u. Visit our guide and follow the steps to do this.
You can learn more about all the details you can update, along with the details you can’t, in our guide.
Log in to now:u and go to Pass it on.
You’ll be asked to put in details for the people you want to pass your savings on to. They don’t have to be people – you can also pass money on to organisations, such as charities.
If you’ve got more than one person or organisation, you’ll also need to say what percentage of your pension savings you want them to have. Please make sure your percentages add up to 100%.
Keeping up to date
Once you’ve named who you want to pass your pension savings on to, please keep it up to date. Things like marriage, divorce, having children, bereavement – these can all change who you want your pension savings to go to.
Every three years you’ll get a reminder to log in to now:u and check you’re still happy with the people or organisations you’ve named. If you don’t change anything, you’ll be asked to confirm your wishes haven’t changed. This is because the more up to date your information is, the more certain the Trustee can be that these are your final wishes.
Who decides where the money goes?
The now:pensions Trustee has the final say over where the money goes, although they’ll usually follow your wishes.
This means your pension savings can be paid without inheritance tax, because they aren’t treated as part of your estate – the money and belongings you leave when you die.
This changes from 6 April 2027, when pension savings left over when you die will be included when working out inheritance tax, although we don’t have finalised legislation yet.
In your latest annual statement, the money you saved ‘this year’ includes the money received and invested into your now:pensions account from 1 April 2025 to 31 March 2026.
Your previous statements also included money that was due on or around 31 March but hadn’t yet been invested into your now:pensions account on 31 March.
This means:
- some of the money shown as saved ‘this year’ in your latest statement (up to 31 March 2026) may have also shown as money saved ‘this year’ in your previous statement (up to 31 March 2025), and
- the total amount in your pensions savings on 31 March 2025, shown in your previous statement, might be higher than the value on 1 April 2025 that is shown in your latest statement.
This will not appear in future annual statements – all money received ‘this year’ will be money that was received and invested into your now:pensions account in the relevant 12-month period.
You can see an estimate of your future pension savings in the now:u retirement planner, or on your annual benefit statement. To learn more about the assumptions we use to determine your future pension estimates, read our How we work out the future value of your pension savings guide.
Additional support
Do you need extra support? If you tell us what extra support you need, we’ll try our best to help you.
