Your fund value is the total amount of money in your pension savings with us at any time. This is the amount you’ll be able to take when you retire.
Your transfer value is the amount of money you can transfer out of the Scheme.
Because the Scheme is a defined contribution pension, its value goes up and down depending on the performance of the investments it uses. This affects the fund value and the transfer value.
The fund value is updated each week, usually on a Friday or Saturday. You can check the latest value online by logging in to your online member account at nowgatewayx.com.
The transfer value is the value of your pension savings on the date you transfer them out of the Scheme. Because investment values change all the time, it’s not possible to know exactly what this will be in advance. See Is my transfer value quote guaranteed?