Under auto enrolment, UK employers must legally provide a workplace pension for their employees. Your employer has chosen the NOW: Pensions Trust (the ‘Scheme’) to meet these requirements. You’re now a member of the Scheme.
Your pension contributions, together with your employer’s contributions, go towards building up your pension savings. In other words, you’re saving for your retirement with your employer’s help. You may also get tax relief.
The government introduced auto enrolment in 2012 to help people save for their retirement. It means all employers are legally required to provide a workplace pension for their eligible employees.