Auto enrolment - NOW: Pensions
New legislation relating to workplace pensions requires employers to automatically enrol specific groups of their workers into a pension scheme. For the University, the date from which we need to implement auto enrolment is 1 July 2013, with re-enrolment every three years thereafter.
If you are already an active member of one of the University’s pension schemes there will be no change for you as a result of auto enrolment.
If you do not currently pay into a pension scheme, the University will be required, by law, to automatically enrol you into a pension scheme if you are:
- Aged between 22 and State Pension Age (currently age 65);
- Earning above the statutory minimum amount of £833 per month.
If you do not meet the criteria, you will not be automatically enrolled but you do have the option to join NOW: Pensions.
The University's auto enrolment scheme is provided by NOW: Pensions. More details on NOW: Pensions can be found at - www.nowpensions.com
Contributions rates for NOW: Pensions:
| Date | Employees | Employers |
| April 2019 - onwards | 5% | 5% |
NOW: Pensions Account Activation
In order to activate your online account, you will need to visit - https://www.nowgatewayx.com/activate. The contract id will be supplied by NOW: Pensions in your enrolment email. If the email is misplaced, please contact pensions@st-andrews.ac.uk, for assistance.
NOW: Pensions will also email details on how to opt out if you do not want to be a member, as members are required by law to opt out directly with NOW: Pensions.
If I opt-out, will you increase my salary to compensate?
Auto-enrolment regulations require that an employer cannot incentivise people to opt-out of a pension scheme by paying salary in lieu of pension contributions. This means that, legally, we are not able to pay you the employer contributions if you choose to opt-out of the scheme. If you are considering opting-out, you are strongly recommended to take professional pensions advice.
Re-enrolment
If you elect to opt out of NOW: Pensions, please note you will be auto enrolled every three years as part of the re-enrolment cycle, so you will need to opt out once again, if you do not wish to participate in the Scheme.
Contact Details:
NOW: Pensions
Post Handling Centre
St James' Tower
7 Charlotte Street
Manchester
M1 4DZ