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Your Workplace Pension at Nasa - The Basics

After 3 months with us, you'll automatically join our workplace pension scheme with NOW Pensions. It's a great way to save for your future, and we'll contribute too!

From October 2012 UK employers and employees got together and started saving for retirement. Known as auto-enrolment, this is a new pensions saving plan that you will save into – even the taxman helps you save by way of tax relief!

How your pension works

Think of your workplace pension as a three-way partnership between you, Nasa, and the government to help build your retirement fund:

Your contribution: 5% of your qualifying earnings
Employer contribution: 3% of your qualifying earnings (that's free money from us!)
Government contribution: Tax relief that makes your savings go further

What are qualifying earnings? This is the slice of your salary between £120 and £967 per week (or £520 and £4189 per month) that counts for pension purposes.


Who Gets Enrolled?

You'll automatically join if you tick all these boxes:

  • Age: 22 or over (but under State Pension age)
  • Earnings: More than £192 gross per week
  • Employment: Been with Nasa for at least 12 weeks
  • Location: Work in the UK

 

Your Options - You're in Control

Stay in (recommended!): Just sit back and watch your pension grow. With our contributions plus tax relief, you're getting far more than you're putting in.

Opt out: You can leave the scheme if you prefer, but you'll miss out on our 3% contribution and valuable tax benefits. You can find out more about the process here.

Boost your savings: Want to save more? You can pay Additional Voluntary Contributions (AVCs) to top up your pension pot. Future you will thank present you! You can find out more about AVCs here.

Opt in: Not automatically eligible but want to join anyway, or don't want to wait 3 months to be enrolled? Just let our Pensions team know by emailing pensions@nasagroup.co.uk, and we will opt you in sooner.

What Happens Next?

Once your first pension contribution has been taken and reported to our workplace pension provider NOW Pensions, they will be in touch and 

  • Set up your personal online account
  • Send you login details and guides
  • Provide tools to track your pension growth
  • Offer investment options to suit your preferences

Need Help?

Contact our Payroll team if:

  • Your personal details need updating
  • You want to change your contribution rate
  • You have questions about opting in or out

Watch the NOW Pensions video guide for a friendly explanation of how auto-enrolment works - it makes everything crystal clear in just a few minutes.

 

Remember: Starting to save for retirement early, even small amounts, can make a huge difference thanks to compound growth. Your pension contributions today are an investment in the lifestyle you want tomorrow.