Help Centre for Advisers

Who is eligible for a short service refund?

Employees who have joined a workplace pension scheme after the 1 October 2015 and have passed their opt out window of one calendar month will not be able to apply for a refund due to changes in legislation.

For employees who joined the scheme prior to 1st October 2015, they may be able to request a short service refund to the value of their own contributions (the law prevents us from offering this option to new joiners on/from 1st October 2015). It should be noted that a short service refund only relates to the employee contributions and will be subject to tax. Contributions made by the employer or under a salary sacrifice agreement cannot be refunded.

I've known ATP for many years and have enormous respect for the effectiveness of their investment strategy. I'm convinced that NOW: Pensions can become a major player in the UK and look forward to being a part of that success. — Chris Daykin, the former Government Actuary
Why do we insist on having a choice of fund manager when the evidence shows there is usually no benefit to be gained…and there is always a negative impact in terms of cost? — Anthony Hilton financial editor of the Evening Standard writing in Pensions World, June 2013
NOW: Pensions' risk management and diversified growth fund are state of the art. — Win Robbins, former Head of European Fixed Income Barclays Global Investors
“Redington’s Investment Committee assigned an Approved Rating to the NPI DGF and positive on the fund.” — Redington
ATP comes to the UK pensions world with the highest commendations from the Danish trade unions, employers and government. NOW: Pensions' offering in the UK will be high quality, low cost, and honest and I'm proud to be associated with it. — John Monks, member of House of Lords and former General Secretary of ETUC and TUC