Yes. NOW: Pensions operates a net pay scheme, so your contributions come out of your pay before income tax is taken off. So if you’re a taxpayer, you automatically get full tax relief – you don’t pay any income tax on the money you contribute to your pension. However, if you don’t pay any tax you don’t automatically get tax relief.
Although the government is taking steps to address this, NOW: Pensions wants to make sure non-taxpayers don’t miss out, so we have our own tax top-up scheme. If you haven’t paid tax on any of your UK earnings, we promise to top up your pension savings by the amount of tax relief you’ve missed out each tax year.
You can do this at the end of each year. Just fill in our tax top-up scheme form.
You can contribute up to 100% of your salary towards your retirement savings and still get tax relief, as long as the total contribution from you and your employer is below the annual allowance. This allowance is currently £40,000 a year, but can be lower for high earners.