As a member of the NOW: Pensions Trust (‘the Scheme), you pay two different charges to us:
- A monthly administration charge, which covers the cost of running the Scheme
- An annual investment charge, which covers the cost of investing your money.
If you leave your employer or stop contributing to your pension, you can transfer the money in your account to another pension provider at no cost. This may be a sensible thing to do, especially if you are leaving a very small pension pot with just a few hundred pounds because the charges continue to apply. If you don’t move your money, the charges could mean that you have nothing left in your fund in a few years’ time
More information about our costs and charges