As part of the application process when signing up for a NOW: Pensions scheme, you will be asked to complete two Direct Debit Instructions. One is for collection of scheme contributions and the other is for charges. Below you will find details about both.
If multiple signatories are needed to authorise a Direct Debit Instruction, a hard copy will be required. During the online sign up process, you will have been presented with instructions to print, complete and return the paper based Direct Debit.
No payments are raised against a Direct Debit until the paper version has been received. The Direct Debit Instruction can only be set up successfully if:
• you are authorised to sign the Direct Debit
• the bank details provided are correct
Please ensure that you return the Direct Debit Instruction to the address on the form for us to successfully complete your application.
Paying by Direct Debit, over other methods, carries a number of distinct advantages. Direct Debit is a simple and convenient option because it is automated and electronic which will save you time and effort once the initial Direct Debit details have been provided.
Direct Debit for pension contributions