If you leave your employer, they will tell us your leaving date. We’ll send a statement to your home address showing the value of your pension savings in the Scheme at your leaving date.
If you opt out of the Scheme without leaving your employer, the date you leave will be shown on the Gateway member website. But remember, you may be re-enrolled again in the future.
Either way, once you’ve left the Scheme you won’t pay any more contributions and neither will your employer. Your pension savings will stay invested. We’ll send you a benefit statement every year showing the value of your pension savings. You’ll continue to pay charges on your pension savings and you can find out more about these in our costs and charges booklet.
You can leave your pension savings invested until you retire and take your benefits. Or, you can transfer your pension savings in to NOW: Pensions from another pension provider or out from NOW: Pensions to another pension provider. We don’t charge you to transfer your benefits in or out.
You might want to transfer in or out so you can put all your pension savings together in one place. This could help you maximise your retirement income, as you could get better rates for your retirement benefits if you have one larger pot rather than several small ones.
Transferring out is a serious step and you should look into it carefully. See the Transfers FAQs section for more about transferring out.
Keep your details up to date
It’s always important to keep your details up to date. It’s even more important if you leave your employer, as we need to know where to contact you. You can tell us about changes to your personal details in the following ways.
Write to: NOW: Pensions, Post Handling Centre, St James’s Tower, 7 Charlotte Street, Manchester M1 4DZ
Call: 0330 100 3334 from 9am to 5pm, Monday to Friday. We might record your call to help us improve our service to you.
You’ll need to tell us your full name and address and National Insurance number, plus the name of the employer you used to work for. Your NOW: Pensions contract ID would also be helpful if you still have it. Your former employer can tell you this.