The current Participation Agreement is Participation Agreement v.7, effective from 12 May 2025.
Legal Participation Agreement
The Participation Agreement sets out the terms and conditions for Services agreed between the Employer and NOW: Pensions.
Notification of Amendment to the Payments Schedule
The Member Fees section within the Payments Schedule of the Employers current Participation Agreement v.7 is amended with effect from 15 November 2025.
The word “accrued” has been removed when calculating the Member Administration Fee and the Investment Management Charge under the heading “when paid and how”. This is a non-material amendment to the way in which NOW: Pensions collects Member Fees to accurately reflect the process in practice.
This notice has been produced for the purposes of providing legal notice pursuant to the Participation Agreement. The Employer’s Payments Schedule has been updated within now:u.
This notification is provided in accordance with Clause 3.1 in the Participation Agreement and the changes will take effect on the date set out above. Please note that expressions used in this notification have the meaning as set out in Participation Agreement v.7.
The vast majority of Employers are on the latest version of the Participation Agreement, Participation Agreement v.7. If you’re currently on a different version of the Participation Agreement, please note that this change will still be effective.
The Participation Agreement consists of and includes:
Employers can view this by logging in to now:u.
Download the Participation Agreement v.7 Terms and Conditions.
Including the Employer’s auto-enrolment communications decision.
Download the Participation Agreement v.7 Services Schedule.
Previous versions
Bespoke amendments
A very small number of Employers have agreed bespoke amendments to the Terms and Conditions of the Participation Agreement.
NOW: Pensions will have contacted such Employers separately to confirm the terms of the Employer’s agreement.