The NOW: Pensions charging structure is designed to be simple, transparent and fair.
We combine a low annual management charge of 0.3% with a monthly administration charge. By splitting the charge, costs are spread more equitably across all members. It also makes it easier to understand what you’ll pay for your pension every year.
NOW: Pensions charges are fair and cost effective for members and we also offer reduced administration charges for those earning less than £18,000 per year.
The below table outlines the NOW: Pensions member charges:
*The proposed dates are subject to review in light of the recent announcement by government to delay minimum contribution increases. The new dates are subject to Parliament approval.
From 1 August 2016 we are simplifying our deferred charges to become more closely aligned with our active member charges and make them easier to understand.