Members Manage your pension
Your workplace has chosen now:pensions as your workplace pension. Get up and running with our now:u app. Find out how to set up and log in to your now:pensions account, manage your payments and see how your pension savings grow.
Learn about auto enrolment
Wondering why you've been automatically put into a pension? This is called auto enrolment. Visit our auto enrolment page to find out everything you need to know about why you've been enrolled, and what your options are.
Find out more
Your guide to now:pensions
This guide will help you understand why saving for retirement is important, how we invest your money, the charges we make and what you can do with your money when you retire.
Paying in extra money
The more you save for your future, the more money you're likely to have - so it makes sense to save as much as you can afford. It’s easy to change your regular payments in using the now:u app or online. Find out more about paying in extra money.
Find out more
Transferring pensions
Combine all your pensions in one place. We’ve partnered with Pension Lab, an external provider, to make it simple to bring your other pensions into now:pensions.
Transfer a pension
Your annual benefit statement
Your annual benefit statement gives you a yearly snapshot of your pension savings. It shows how much has been paid into your pension savings, how the value of your investments has changed and how much your pension savings could be worth in the future. It can help you plan for the future you want.
Stop paying in
You can stop paying in to your now:pensions account at any time. But if you do, your workplace stops paying in too.
Stop paying in
Re-enrolment
By law, your workplace must check if you qualify to be in a pension every three years and re-enrol you if you do. They must do this even if you've asked to stop paying into your account before.
Understanding re-enrolment
Costs and charges
You can see the costs and charges for managing your pension by logging in to now:u. You’ll also find them on your benefit statement.
See costs and charges
Frequently asked questions
See all support for membersIf your other pension is defined contribution (DC) – you pay money into the pension and it’s invested to help it grow – you can usually transfer it into now:pensions. Find out more about DC pensions here.
You can also transfer in:
- pension credits from a pension sharing order after a divorce, and
- cash transfers from pensions you were in for less than two years.
If the pension you want to transfer isn’t any of these, you’ll need to check whether now:pensions can accept it. There are some types of pension we don’t accept. Your pension provider should be able to tell you if there’s anything that would stop us accepting your pension.
If you were enrolled into now:pensions less than a month ago, you won’t be able to start a transfer in yet. For one month after you’re enrolled into now:pensions, you have the right to stop your payments in, get the money back and be treated as if you’d never been in now:pensions. You can’t transfer in any pensions in until this month is over.
Log in to now:u and go to Find and transfer. You’ll see the date you can start a transfer in from. You’ll also find this date on your enrolment letter.
Yes. The more you save for your retirement, the more income you could have when you take your retirement benefits.
How to increase the amount you pay in
Log in to now:u and go to Change your payments in > Pay in more.
Choose an extra amount to pay each time you get paid. This must be a percentage of your salary as a whole number – for example, 2%.
If you want to reduce your payments in, reduce or remove the extra amount you pay.
Choose Confirm. Your workplace can tell you when the changed payments will start going in to your now:pensions account.
Remember the tax relief
If you’re a taxpayer, you don’t pay tax on all or a lot of the money that goes into your pension savings. Instead, the tax you would have paid goes into your pension savings. This is called tax relief.
If you wanted to, you could pay up to the whole of your salary into your pension in a tax year (6th April to 5th April) and you’d still get tax relief, as long as the total going into your pension savings, from you and your workplace does not exceed the annual allowance. This applies to all the pension schemes you’re actively saving into, including now:pensions and any personal pensions you have.
If you’re self-employed, you can claim tax relief via your annual self-assessment tax return.
The annual allowance is currently £60,000 a year.
If you exceed your annual allowance limit, you would usually have to pay tax on the excess. However, you may be able to carry forward any unused annual allowance from the previous 3 tax years, which could reduce the tax charge.
The annual allowance could reduce to £10,000 a year if you start taking your money out of now:pensions but also carry on paying in to your pension savings. This reduced annual allowance is called the money purchase annual allowance.
Our costs and charges page explains what you pay as a now:pensions member.
It’s a summary of your pension savings.
Every year we send an email to your now:u mailbox with your annual statement attached. Log in to now:u and go to your mailbox. You’ll be able to download your annual statement and print it, if you want to.
Your annual statement covers the period between 1 April and 31 March each year. It tells you what your pension savings are worth at 31 March and how much they could be worth in the future.
Your annual benefit statement tells you:
- how much money you’ve built up in your pension savings
- how much you and your workplace have paid in
- how investment has affected the value of your pension savings
- the costs and charges that apply to your account
- an estimate of how much your savings might be worth at your planned retirement age
- what you could do to give yourself more money in the future
Every three years, your workplace must check if they have any workers who qualify to be in the pension but aren’t. If they do, they must re-enrol those workers.
They have to do this – it’s the law. The government sets these rules and The Pensions Regulator enforces them.
If you get re-enrolled, we’ll write to tell you. You can be re-enrolled even if you stopped paying in to your now:pensions account before. You can stop paying in again if you want to at any time, but you’ll lose these benefits:
- the chance to build up pension savings for your future
- extra money from your workplace – at least 3% of your qualifying earnings
- tax relief – you don’t pay tax on money you put into pension savings. The tax you would have paid goes in to your pension savings instead
As long as you tell us you want to stop paying in during the 1 month period shown in your re-enrolment letter, you will be treated as if you had never been in the pension.
Learn more about about re-enrolment here.