Your participation agreement

Your participation agreement is your contract with us. We have this contract with all the employers who are part of our master trust and this agreement defines the terms of participation in our Scheme.

Your Participation Agreement is amended to the Varied Participation Agreement with effect from 23 March 2020.

The Varied Participation Agreement shall be deemed to have the following details inserted into it from your current Participation Agreement: those details required in the Varied Participation Agreement Cover Page, the Payments Schedule (as amended), the Employer Services Charge amount (where such charge applies in your current Participation Agreement) and the names and dates of the original signatories.

Please ensure that you download and save a copy of this Varied Participation Agreement for your records.

For previous changes to your Participation Agreement that became effective, see below.

Download the latest version

Participation agreement March 2020

Previous changes to the participation agreement

23 March 2020: change of registered office

NOW: Pensions’ registered office in the Participation Agreement is amended to:

6 Bevis Marks, London, EC3A 7BA.

This notice is provided in accordance with section 3.1 in the Participation Agreement and the amendment will take effect on 23 March 2020.


1 October 2017: change to notification clause

The following clause is added to the notices clause in your Participation Agreement and supersedes any existing conflicting terms:

  • Notices and communications: Unless NOW: Pensions agrees otherwise, the Employer will give all information and any notice to NOW: Pensions, and will otherwise communicate with NOW: Pensions, through the Employer Portal.
  • NOW: Pensions may give any information and any notice (including, but not limited to, any notice required under the notice clause of this Participation Agreement) to the Employer, and will otherwise communicate with the Employer, by email, post, courier, through the Employer Portal or otherwise through the NOW: Pensions website.
  • NOW: Pensions may give any information and any notice (including, but not limited to, any notice required under the notice clause of this Participation Agreement) to Members through the Member Portal, by email to the Member’s email address, by email to the Employer’s email address, by post or through the NOW: Website. This Clause is always subject to the Applicable Law.

This change to your Participation Agreement will take effect on 31 December 2017.


26 September 2017: Change to auto-enrolment phasing

Over time, auto enrolment minimum contributions are due to increase.  The government set a timetable for the increases, however Parliament confirmed the timetable will be pushed back six months. See table below.

Original dates New dates Total minimum contributions* Employer minimum contributions*
To 30 Sept 2017 To 5 April 2018 2% 1%
1 Oct 2017 to 30 Sep 2018 6 April 2018 to 5 April 2019 5% 2%
1 Oct 2018 onwards 6 April 2019 onwards 8% 3%

* these percentages are based on qualifying earnings.

You should have received an email from us explaining the delay to auto enrolment phasing and any specific changes required to your Participation Agreement or Contribution Models.

Unless agreed otherwise by NOW: Pensions, your Participation Agreement is varied with effect from September 2017 as follows:

The dates specified within the rates of contributions table(s) within the Schedule of Payments/Payments Schedule are deleted and replaced with:

To 5 April 2018
6 April 2018 to 5 April 2019
From 6 April 2019

Where minimum contribution rates for an employer and/or contribution dates are varied as a result of a change in the Automatic Enrolment Laws, the Schedule of Payments/Payments Schedule will be deemed updated to reflect the change from the effective date of the change.

Unless you notify the Trust Manager otherwise, the Member contribution rate shall be increased from time to time to the extent necessary so that, when combined with the minimum employer contribution rate required by the Automatic Enrolment Laws, the total contribution rate in respect of each Member will be equal to the overall minimum rate required by the Automatic Enrolment Laws.

The Trust Manager will provide prior written notification (which may be via electronic communications and/or on the NOW: Pensions website) of such changes.

Expressions used in this website notification have the meaning set out in the Participation Agreement. No other terms within the Participation Agreement are affected by this change.