1. An introduction to your new workplace pension
Name | Position
Date

2. What’s today about? What is auto enrolment? Why is this happening?
How does this affect me?
When will I be auto enrolled?
How much will it cost me?
When and how can I take the benefits?
What if I don’t want to join the pension scheme?
Who is NOW: Pensions?
Questions

3. What is auto enrolment?
New government legislation relating to workplace pensions
Requires all employers to automatically enrol specific groups of their employees into a workplace pension scheme
For (insert employer name), the implementation date for auto enrolment is (insert staging date)
Introduced 2012.

4. Why is this happening?
The full basic state pension is currently £ per week for a single person (depending on circumstances and National Insurance record)
This is payable from State Pension Age
The government’s aim is to get more people to have another income, on top of the State Pension, when they come to retire
Employers will enrol their employees automatically into a workplace pension scheme to make it easier for people to start saving
The age at which you can claim State Pension is changing. It is currently 65 for men. State Pension age for women is gradually increasing from 60 and will reach 65 by November State Pension age for both men and women will then increase to 66 by October 2020 and after that to at least 68.

5. How does this affect me?
(insert employer name) are required, by law, to automatically enrol you into a workplace pension scheme if you:
are aged 22 or over
are under State Pension age
earn more than £10,000 a year (£833 per month)
and work or usually work in the UK
This makes you an ELIGIBLE employee

6. What if I’m not ELIGIBLE?
You will receive a personal communication explaining what you need to do if you wish to opt in. You could be:
NON ELIGIBLE
ENTITLED
Be invited to join the scheme if you wish (opt in)
Non eligible – your employer will pay too.

7. When will I be auto enrolled?
(insert employer name) will implement your workplace pension scheme with effect from (insert staging date)
Employees will be auto enrolled, and pension contributions deducted, with effect from (insert end of postponement period, if using postponement)
Your employer is using Postponement

8. How much will it cost me? 5% 3% 3% 2% 1% 1%
Contributions will be taken directly from your pay at every payroll run. A percentage of your pay will be deducted and transferred into your pension pot meaning that if you pay income tax, you will benefit from tax relief. In addition, (insert employer name) will pay a percentage of your salary on top, and into your pot.
Up to
March 2018
April 2018 to
March 2019
From
April 2019 5% 3%
Employer
contribution 3%
Employer
contribution 2%
Employer
contribution 1%
Employee contribution 1%
Employee contribution
Employee contribution

9. When and how can I take the benefits?
You can currently retire from the age of 55
Your options are:
Take 25% of your fund as a lump sum and the remaining monies can be used to purchase an annuity (guaranteed income for life)
Take 25% of your fund as a tax free cash lump sum and the remainder will be taxed at your marginal rate of income tax for the tax year
Take 25% of your fund as a lump sum and the remaining monies can be used to purchase an income drawdown product. Your pension fund will remain invested while you draw an appropriate income from it each year.

10. What if I don’t want to join?
You will receive a personal communication explaining what you need to do if you wish to opt out
BUT….consider this carefully
Every £20 going into your pot has only cost you £8!

11. Who is NOW: Pensions?

12. Who is NOW: Pensions? High quality Full transparency Value for money
NOW: Pensions is a UK multi employer trust
Member focused
Their mission is to give everyone in the UK the possibility of a better retirement
Supported by ATP, Denmark’s leading pension provider
High quality
Full transparency
Value for money
ATP – gap in market for cost efficient, simple pensions with investment funds that perform …

13. Trustee Board – Master Trust Governance
Nigel Waterson
Chair and former
Shadow Pensions Minister
Jocelyn Blackwell
Founder of Dunnet Shaw and Raising Standards in Pensions Administration
Christopher Daykin
The Former Government Actuary
Lord Monks
Member of House of Lords and Former General Secretary of ETUC and TUC
Win Robbins
Former Head of European Fixed Income, Barclays Global Investors and Credit Suisse Asset Management
Independent with a depth of experience to provide rigorous governance.

14. We align our interest to yours
All NOW: Pensions employees are in the same pension as you!

15. Key drivers to a good pension outcome
Contributions paid in
Member returns
Cost and charges
Transition into retirement

16. 0.3% of Assets Under Management
The lower the charges, the more you save
Administration charge:
£1.50 per member per month
Annual Product Investment Management charge:
0.3% of Assets Under Management +
Deferred member charge needs updating.
No minimum contributions – huge fairness and cost advantage over time for members
Reduced administration charges apply, until 30th Sept 2018, for those earning less than £18,000 per year
£0.30 from now until 30th Sept 2017 and £1 from 1st Oct 2017 to 30th Sept 2018

17. Glidepath into retirement
Diversified Growth Fund
Return Target: Cash +3%
Retirement Countdown Fund
Return Target: Cash

18. Recent performance
10.8%
7.3%
10.2%
6.8%
3.5%
3.4%

19. Recent performance
7.6%
13.5%
13.8%
5.6%
3.5%
3.4%

20. Recent performance
7.3%
10.8%
10.2%
6.8%
3.5%
3.4%

21. Recent performance
17.2%
7.6%
13.7%
13.5%
3.4%
3.5%

22. What happens next? Your auto enrolment journey explained
Annual statement ( sent when it’s ready to view online)
notification
notification
Welcome
Within 6 weeks
3 months before
Auto enrolment begins
Ongoing
A notification is sent to you letting you know your pension scheme will start in 3 months.
You are auto enrolled into a pension.
This is when you will start to see contributions made
by both you and your employer on your payslip.
All the information you need, supplied in an easy to
understand way.
Watch your pension perform by viewing your annual statement.
If you want to transfer other pension pots in, you can do so online or call us on the number below.
This slide should be used if employer is using Postponement.
Don’t want to wait?
Details sent on how to opt in
Want to opt out?
Details sent on where to go online, call, or write to us

23. What happens next? Your auto enrolment journey explained
Annual statement ( sent when it’s ready to view online)
notification
notification
Welcome
Within 6 weeks
3 months before
Auto enrolment begins
Ongoing
A notification is sent to you letting you know your pension scheme will start in 3 months.
You are auto enrolled into a pension.
This is when you will start to see contributions made
by both you and your employer on your payslip.
All the information you need, supplied in an easy to
understand way.
Watch your pension perform by viewing your annual statement.
If you want to transfer other pension pots in, you can do so online or call us on the number below.
This slide should be used if employer is NOT using Postponement.
Don’t want to wait?
Details sent on how to opt in
Want to opt out?
Details sent on where to go online, call, or write to us

24. Postponement
Issued by to you

25. Welcome Joiner email Login On joining/when enrolled
Welcome with login to secure online account
Contact information via and helpdesk
Welcome
Login
Issued by

26. In summary – What do we get?
Simple and transparent pension
High quality investment solution
Supported transition to retirement
Your own online member account and helpline
Low and transparent costs
We live and work by our set of principles, never forgetting that it’s your money and your future we go to work to grow and protect. So, here’s our promise to our members.
We promise to…
Stay simple
Stay transparent
Stay responsible
State of the art managed, diversified growth fund
Retirement protection
Protecting your future retirement income (life cycling with annuity hedge)
Affordable life assurance
Protecting you from the impact of retiring in bad times
Your money is being invested with prudent risk giving long term stable returns
Transfer in/out
Life insurance
Tax efficient? affordable life assurance if you want
Easy for employers
Easy compliance with auto enrolment
Easy technical integration with payrolls
Easy fit with your remuneration and HR strategy
Flexible branding
Branding to fit your communications strategy
Simple communication
Simple, easy to understand communications
Easy for employees
Online and straight through processing with paper where needed
The only decisions you need to make are how much you contribute and when you plan to retire
Full online member services and call center
Future proofing
additional workplace savings products
One charging structure
One transparent charging structure for all
Your contributions are not being eaten by unnecessary costs

27. Want to know more? www.nowpensions.com About NOW: Pensions
About auto enrolment
How we invest your funds
And much more

28. NOW: is the time for a better pension

29. Any questions? nowpensions.com 0 330 100 3336
NOW: Pensions Limited, Registered in England and Wales. Registered office NOW: Pensions
2nd Floor, 25 Christopher Street, London, EC2A 2BS. Company number: , VAT number:
NOW: Pensions is a UK occupational pension plan. Membership is only available through an employer, following satisfactory checks on the employer. This is written as a general guide only. It should not be relied upon as a substitute for specific professional advice. Please note past performance is not a guarantee of future returns.
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