Nowpensions.com Review

Based on checking the website nowpensions.com, it appears to be a legitimate platform focusing on workplace pensions in the UK. However, the nature of conventional pensions, particularly those involving investment vehicles that might include interest-bearing instruments or other non-Shariah-compliant assets, makes them problematic from an Islamic finance perspective. The primary concern revolves around the concept of riba interest and gharar excessive uncertainty or speculation, which are generally prohibited in Islamic dealings. While the website presents itself as a straightforward pension provider, the inherent structure of traditional pension funds often involves elements that contravene Islamic ethical principles. Therefore, from an Islamic standpoint, direct engagement with such a service for one’s primary retirement planning would be cautioned against, and Shariah-compliant alternatives should be sought.

Here’s an overall review summary:

• Website Legitimacy: Appears legitimate with clear calls to action for various user types members, employers, payroll bureaus, financial advisors.
• Transparency: Provides information on fees, login procedures, and support, though the specific investment underlying assets are not explicitly detailed on the homepage.
• Ease of Use: Website design seems user-friendly with clear navigation and a dedicated ‘now:u’ platform for managing pensions.
• Trust Indicators: Mentions “Over 20,000 organisations and over 2 million members trust now:pensions,” and includes a client testimonial.
• Islamic Compliance: Not recommended due to the inherent nature of conventional pension schemes, which typically involve interest-based investments and potentially other non-compliant elements, violating principles of riba and gharar.

While nowpensions.com aims to simplify pension management, the underlying financial mechanisms are crucial.

For individuals adhering to Islamic principles, the traditional pension model, often reliant on interest-bearing investments and speculative financial instruments, presents significant ethical dilemmas. It’s not just about the convenience.

It’s about ensuring your long-term financial planning aligns with your faith.

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Such systems, by design, often involve elements that lead to an unfair distribution of wealth or engagement in forbidden transactions, leading to potentially negative outcomes in the long run from an Islamic perspective.

The financial well-being sought through traditional pensions might come at the cost of spiritual well-being, making it a less desirable option for a Muslim.

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IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Best Alternatives for Ethical Retirement Planning:

For those seeking to build wealth and plan for retirement in a Shariah-compliant manner, focusing on ethical and halal investment vehicles is paramount.

These alternatives prioritize asset-backed investments, equity participation, and avoidance of interest.

• Islamic Mutual Funds:
  • Key Features: Invests in Shariah-compliant equities, real estate, and other permissible assets. avoids industries like alcohol, gambling, and conventional finance.
  • Average Price: Varies based on fund management fees typically 0.5% – 2% annually.
  • Pros: Professionally managed, diversified, readily accessible, adheres to Islamic principles.
  • Cons: Returns can fluctuate with market conditions, management fees apply.
• Halal Stock Investment:
  • Key Features: Direct investment in publicly traded companies that meet Shariah screening criteria e.g., no excessive debt, no impermissible business activities.
  • Average Price: Brokerage fees per trade e.g., $0-$10 plus potential platform fees.
  • Pros: Direct ownership, potential for high returns, full control over investments.
  • Cons: Requires research and understanding of individual companies, higher risk if not diversified.
• Real Estate Investment Trusts REITs:
  • Key Features: Invests in income-producing real estate. publicly traded, offering liquidity. Ensure the REIT focuses on permissible assets e.g., residential, commercial buildings, not hotels with alcohol sales.
  • Average Price: Stock price plus brokerage fees.
  • Pros: Diversification into real estate, potential for steady income and capital appreciation, liquid.
  • Cons: Real estate market fluctuations, due diligence required to ensure Shariah compliance of the REIT’s underlying assets.
• Sukuk Islamic Bonds:
  • Key Features: Shariah-compliant financial certificates representing undivided ownership in tangible assets or services. provide regular profit payments rather than interest.
  • Average Price: Varies by issuance, often traded in institutional markets, but retail options are emerging.
  • Pros: Asset-backed, income-generating, Shariah-compliant alternative to conventional bonds.
  • Cons: Less liquidity than conventional bonds, availability can be limited for individual investors.
• Gold and Silver as Physical Assets:
  • Key Features: Direct purchase of physical gold and silver bullion or coins as a store of value.
  • Average Price: Spot price of gold/silver plus a premium for physical product.
  • Pros: Tangible asset, historically a hedge against inflation, permissible in Islam.
  • Cons: Storage costs, no income generation, price volatility.
• Crowdfunding for Halal Businesses:
  • Key Features: Investing small amounts in ethical, Shariah-compliant startups or small businesses, often through equity or profit-sharing models.
  • Average Price: Minimum investment varies widely e.g., $100 – $1,000+.
  • Pros: Direct support for ethical businesses, potential for high returns, promotes economic growth.
  • Cons: High risk, illiquid, due diligence on business models is critical.
• Savings in Islamic Banks/Financial Institutions:
  • Key Features: Utilizing savings accounts, investment accounts, or fixed deposits offered by Islamic banks that operate on profit-sharing Mudarabah or other Shariah-compliant contracts.
  • Average Price: No direct cost, but profit-sharing ratios apply.
  • Pros: Secure, Shariah-compliant, provides potential for modest returns, builds a foundation for larger investments.
  • Cons: Returns may be lower than direct investments, limited availability of full-fledged Islamic banks in some regions.

nowpensions.com Review & First Look: Navigating the Pension Landscape

When you first land on nowpensions.com, the immediate impression is one of clarity and functionality. The site is designed to cater to multiple audiences: nowpensions.com login options are prominently displayed for members, employers, payroll bureaus, and financial advisors. This segmented approach is smart, allowing users to quickly find relevant information. They’ve also rolled out “now:u,” which seems to be a new platform designed to make managing your pension even smoother. The homepage emphasizes simplicity, convenience, and trustworthiness, touting “Over 20,000 organisations and over 2 million members trust now:pensions.” This is a significant claim, and for many, it immediately builds a sense of reliability.

However, as a professional SEO blog writer with a focus on ethical considerations, particularly within an Islamic framework, a deeper dive is necessary. The core issue isn’t the website’s design or stated user numbers, but the fundamental nature of a conventional pension scheme. Traditional pensions, by their very structure, often involve investment in a broad array of financial instruments, many of which can be interest-bearing riba, involve excessive uncertainty gharar, or invest in non-Shariah-compliant sectors like alcohol, gambling, or conventional banking. While nowpensions.com focuses on “making your life easier” and “saving for a pension now,” it doesn’t explicitly detail the underlying investment principles or whether they adhere to Islamic finance guidelines. This lack of transparency on the ethical nature of their investments is a significant red flag for Muslim individuals and businesses seeking Shariah-compliant financial solutions. Pensions are long-term commitments, and ensuring the capital grows in a permissible way is paramount.

Understanding the Conventional Pension Model’s Islamic Compliance Issues

The fundamental challenge with conventional pension models, like those offered by nowpensions.com, from an Islamic perspective, lies in their inherent reliance on interest riba and speculative transactions gharar. These two elements are explicitly prohibited in Islamic financial dealings.

• Riba Interest: Conventional pensions often invest in bonds, money market instruments, and other fixed-income securities that generate returns through interest. This is a direct violation of Islamic finance principles, which advocate for profit-sharing and asset-backed transactions rather than lending money for a fixed return.
  • Data Point: A significant portion of global financial markets, including pension funds, are structured around interest-based instruments. For example, the bond market alone is worth tens of trillions of dollars, representing a major avenue for conventional pension investments.
  • Impact: Even if a pension fund invests in some permissible assets, the commingling with interest-bearing instruments renders the entire fund non-compliant.
• Gharar Excessive Uncertainty/Speculation: Some conventional investment strategies employed by pension funds may involve derivatives, complex financial products, or highly speculative ventures where the outcome is unduly uncertain. Islam promotes transparency and clarity in financial contracts, discouraging transactions where the risk is excessive or undisclosed.
  • Examples: Certain types of futures, options, and swaps can involve excessive gharar, making them impermissible.
  • Consideration: While not all pension investments are speculative, the lack of explicit Shariah screening means the possibility remains high.
• Non-Halal Industries: Conventional pension funds typically have broad investment mandates, meaning they can invest in companies involved in activities prohibited in Islam, such as alcohol, tobacco, gambling, conventional banking, adult entertainment, and pork production.
  • Screening: Islamic investment funds employ rigorous screening processes to exclude companies whose primary business activities or significant revenue streams come from non-compliant sources. This is almost never the case for mainstream pension funds.
  • Ethical Stance: For a Muslim, deriving benefit from such sources, even indirectly through a pension fund, is seen as morally compromising.

Therefore, while nowpensions.com aims to provide a service for retirement planning, its alignment with Islamic financial ethics is questionable without specific, explicit Shariah-compliant investment options.

nowpensions.com Features: What’s On Offer and What’s Missing

Nowpensions.com positions itself as a streamlined solution for pension management. Their new platform, “now:u,” is highlighted as an easier way to manage pension savings, offering “the most up-to-date info about your pension.” The site breaks down its services for different user groups, including nowpensions.com members, employers, payroll bureaus, and financial advisers, which shows a thoughtful approach to user experience. Instant-pc.com Review

• Member-Centric Features:
  • Explore your pension: A section dedicated to helping members understand pension basics and retirement planning.
  • Manage your pension: Tools to update details and potentially track savings.
  • Finding lost pensions: A guide on how to search for old pensions with now:pensions.
  • “now:u” platform: Promises an easier way to view and manage pension savings.
• Employer-Focused Features:
  • Workplace setup: A “straightforward system” for setting up workplace pensions.
  • Statutory communications management: They claim to manage regulatory communications for businesses.
  • Auto-enrolment solution: Aimed at helping businesses meet their pension auto-enrolment obligations.
• Payroll Bureau & Financial Advisor Support:
  • Cost-effective options: For managing multiple clients efficiently.
  • Obligation fulfillment: Assisting financial advisors in helping clients meet workplace pension obligations.
• Support and Resources:
  • Help Centre: Comprehensive support section with guides and FAQs.
  • Campaigns: “Fair Pensions For All,” addressing issues like the gender pensions gap and the “underpensioned” population. These are commendable social initiatives.

nowpensions.com Pros & Cons: A Balanced View with an Ethical Lens

Evaluating nowpensions.com involves looking at its functional strengths alongside its ethical shortcomings, particularly from an Islamic perspective.

Cons Ethical & Transparency Concerns

• Lack of Shariah Compliance Disclosure: This is the most significant drawback. The website makes no mention of Shariah-compliant investment options, ethical screening, or avoidance of riba interest and gharar excessive uncertainty. For a Muslim, this absence means the default assumption must be that the pension fund operates on conventional principles, which are impermissible.
  • Impact: Any retirement savings accumulated through such a scheme would likely be commingled with impermissible earnings, necessitating purification, which is complex and often viewed as undesirable.
• Potential for Interest-Bearing Investments: As a standard pension provider, it’s highly probable that Now Pensions invests in a broad portfolio that includes bonds and other interest-generating securities. This is a direct violation of Islamic finance principles.
• Investment in Non-Halal Sectors: Without explicit Shariah screening, there’s a significant risk that the pension fund invests in companies involved in industries forbidden in Islam e.g., alcohol, tobacco, gambling, conventional banking, armaments, adult entertainment.
• No Clear Ethical Investment Policy: While they champion “Fair Pensions For All” and address societal issues like the gender pensions gap, their ethical stance doesn’t extend to specific investment exclusions based on religious or moral principles, which is crucial for a Shariah-compliant product.
• Limited Transparency on Investment Portfolio: While they discuss fees and account management, there isn’t an easily accessible, detailed breakdown of the specific underlying assets or investment funds that members’ contributions are directed into on the main public-facing site. This makes it difficult for any ethically minded investor to assess alignment.

Pros Functional & User Experience

• Ease of Use & Accessibility: The website is well-designed, intuitive, and clearly segmented for different user types members, employers, etc.. The introduction of “now:u” seems to enhance user experience for nowpensions.com members.
• Comprehensive Support: The extensive “Help Centre” and guides e.g., “Logging in to now:u,” “Setting up your payroll bureau” suggest a strong commitment to user support and education.
• Clear Call to Action: The “Log in now” and “Get started today” buttons are prominent and guide users effectively.
• Focus on Member Benefits: The emphasis on understanding pension basics and retirement planning is valuable for new and existing pension savers.
• Commitment to Social Issues: Their campaigns like “Fair Pensions For All,” addressing the gender pensions gap and the “underpensioned,” show a broader social responsibility, even if it doesn’t extend to specific religious ethical investment.
• Trust Indicators: The claim of “Over 20,000 organisations and over 2 million members trust now:pensions” and featured testimonials can instill confidence in conventional users.

In summary, while nowpensions.com excels in user experience and accessibility for conventional pension management, its complete lack of information regarding Shariah-compliant investment options makes it an unsuitable choice for Muslims seeking ethical financial planning in accordance with their faith.

nowpensions.com Alternatives: Seeking Shariah-Compliant Retirement

Given the issues with conventional pension schemes like nowpensions.com concerning riba and non-halal investments, exploring genuinely Shariah-compliant alternatives is crucial for Muslims. These options focus on ethical investing, asset-backed transactions, and avoiding prohibited industries. The aim is to build a retirement nest egg that is blessed and free from doubt.

• Islamic Pension Funds/Providers:
  • Overview: These are specifically designed funds that adhere to Islamic finance principles from inception. They screen investments to exclude interest-bearing instruments, companies involved in prohibited activities alcohol, gambling, conventional banking, etc., and excessive gharar.
  • Examples: In the UK, some providers or specific funds within larger providers offer Shariah-compliant pension options. For example, some platforms might facilitate investment into specific Shariah-compliant mutual funds or Sukuk within a pension wrapper. You’d need to search for “Islamic pension UK” or “halal pension scheme” to find current offerings.
  • Key Benefit: Ensures the entire fund is managed in accordance with Islamic law, minimizing the need for individual screening or purification.
• Self-Managed Shariah-Compliant Investment Portfolios:
  • Overview: This involves setting up your own investment account e.g., a Stocks & Shares ISA or a Self-Invested Personal Pension SIPP in the UK and then populating it with Shariah-compliant assets.
  • Assets: This could include halal stocks companies screened for compliance, Islamic REITs, Sukuk, or Shariah-compliant exchange-traded funds ETFs or mutual funds.
  • Brokerages: Look for brokers that offer access to a wide range of global equities and funds, allowing you to select Shariah-compliant options. Examples might include platforms that allow investment in specific Islamic funds or provide tools to screen individual stocks for compliance e.g., AAOIFI standards.
  • Key Benefit: Maximum control over your investments and ensuring 100% adherence to Islamic principles. Requires more personal research and management.
• Direct Real Estate Investment:
  • Overview: Investing directly in physical real estate e.g., residential properties for rent, commercial properties is generally considered permissible in Islam as it involves tangible assets and generates rental income.
  • Strategy: This can be a significant component of a retirement plan, providing steady income and potential capital appreciation.
  • Key Benefit: Asset-backed, generates rental income, and avoids financial speculation. Requires significant capital and active management.
• Ethical Gold and Silver Investment:
  • Overview: Physical gold and silver have historically been sound stores of value and are explicitly permissible assets in Islam. They can serve as a hedge against inflation and currency devaluation.
  • Method: Purchasing physical gold or silver bullion from reputable dealers. Ensure proper storage and possession.
  • Key Benefit: Tangible asset, permissible, and provides portfolio diversification. Does not generate income directly.

When considering any alternative, always perform due diligence. For Islamic investments, specifically verify the Shariah Advisory Board or the Shariah compliance certificate of any fund or product. This ensures that a qualified body of Islamic scholars has reviewed and approved the investment structure and practices.

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nowpensions.com Pricing: Understanding the Costs and Ethical Implications

While nowpensions.com, like other pension providers, details various fees and charges, the fundamental issue from an Islamic perspective isn’t just the amount but the nature of these costs and the underlying financial system they support. The homepage mentions “Changes to the Member Administration Fee” on September 1, 2025, suggesting transparency around their fee structure. Generally, pension providers charge fees for administration, investment management, and potentially transaction costs.

Typical Pension Fee Structures:

• Administration Fees: These cover the operational costs of managing your pension account, record-keeping, and communication. Nowpensions.com explicitly mentions a “Member Administration Fee.” These are usually a flat fee or a small percentage of your fund.
• Investment Management Charges AMC: This is the fee charged by the fund managers for actively managing the investments within your pension. It’s usually a percentage of the total assets under management. This is where the ethical conflict often arises, as these managers are investing in the conventional financial markets.
• Transaction Costs: Fees incurred when buying or selling investments within the pension fund.
• Adviser Charges: If you use a financial adviser, their fees might be factored in or charged separately.

Ethical Implications of Pricing:

From an Islamic finance perspective, even if the explicit fees themselves seem straightforward, the issue is broader.

When you pay into a conventional pension, your money becomes part of a large pool that is then invested by the pension fund manager.

• Implicit Riba: Even if your direct contributions aren’t earning interest, the overall fund is almost certainly engaged in interest-based transactions e.g., buying bonds, lending money at interest, holding cash in interest-bearing accounts. Your fees are contributing to the operation of a system that thrives on riba.
• Support for Impermissible Activities: By participating in such a scheme, your money and fees indirectly support an industry that includes sectors prohibited in Islam. This goes against the principle of avoiding cooperation in sin.
• Lack of Purification Mechanisms: Conventional pension providers do not offer mechanisms for the purification of impermissible earnings takhleeq. While a Muslim can try to purify their own portion of the impermissible income, it is complex, often involves significant estimation, and is not a preferred method compared to avoiding impermissible earnings entirely.

Therefore, while nowpensions.com might be transparent about its fees, the very act of paying into and being part of a conventional pension system carries inherent ethical issues for Muslims, regardless of the fee amount. The cost isn’t just financial. it’s also spiritual.

How to Manage Your nowpensions.com Account and Why Alternatives are Better

Nowpensions.com has streamlined its member experience with the introduction of “now:u,” aimed at making pension management easier. Skullcandy.com Review

The website details various processes for existing members, employers, and payroll bureaus, emphasizing accessibility and support.

Managing Your Account on nowpensions.com:

• nowpensions.com Login / nowpensions.com/start: The primary gateway to manage your pension. The site highlights new login procedures for now:u, including step-by-step guides and video tutorials for first-time logins or those migrating from older platforms like Gateway.
• Updating Details: Members can update personal information, such as mobile numbers, within the now:u platform.
• Checking Benefit Statements: The platform likely allows members to view their benefit statements to track their pension growth. This is a standard feature for pension providers.
• Understanding Costs and Charges: The site mentions a dedicated page to explain “costs and charges,” which is crucial for members to understand how fees impact their savings.
• Stopping Contributions: The website has a dedicated page explaining how to stop paying into your now:pensions account. It notes that if it’s been more than a month since enrollment, you won’t get your payments back, and your savings will remain invested until retirement or transfer.
• Lost Pensions: There’s a guide on how to search for a lost pension with now:pensions.
• Support: Their help centre is extensive, offering guides, FAQs, and contact information for additional support needs.

Why Shariah-Compliant Alternatives are Superior for Muslims:

While nowpensions.com offers functional account management, the core issue for a Muslim remains the ethical permissibility of the pension itself. Managing an account that is fundamentally built on riba interest and potentially non-halal investments is not ideal, even if the process is smooth.

• Peace of Mind: Investing in Shariah-compliant alternatives provides peace of mind that your wealth is being accumulated and managed in accordance with Islamic principles. This ensures that your financial growth is blessed and free from doubt, which is more important than mere financial returns.
• Avoiding Riba: Halal investment options actively avoid interest-based transactions, which are strictly forbidden in Islam. This aligns your financial life with your spiritual obligations.
• Ethical Alignment: Shariah-compliant investments ensure your money is not supporting industries like alcohol, gambling, or conventional banking, which are deemed unethical in Islam. This means your wealth is contributing to morally sound economic activities.
• Purification Avoidance: By investing in halal alternatives from the outset, you avoid the complex and often unsatisfactory process of purifying impermissible earnings at a later stage.
• Long-Term Barakah Blessing: The concept of barakah is central to Islamic finance – that true prosperity comes from divine blessing on wealth earned and managed ethically. This is a foundational principle that conventional pensions simply cannot guarantee.

Therefore, while you can manage your nowpensions.com account, for a Muslim, the better approach is to transition to or establish a retirement plan through Shariah-compliant avenues that ensure ethical and permissible wealth accumulation from day one. This may involve transferring existing pension funds to a Shariah-compliant SIPP or establishing new investment streams based on Islamic finance principles.

nowpensions.com CEO and Leadership: Governance and Transparency

While the homepage of nowpensions.com doesn’t explicitly name its CEO or leadership team in the main promotional text, a legitimate financial institution typically makes such information publicly available, usually in their “About Us” section, annual reports, or official press releases. For now:pensions, a quick search confirms that Patrick Heath-Lay has been the CEO. Knowing the leadership is important for trust and accountability in any financial service.

Importance of Leadership and Governance in Financial Institutions:

• Accountability: The CEO and leadership team are ultimately accountable for the company’s performance, strategic direction, and adherence to regulations.
• Transparency: Publicly identifying leadership fosters transparency and allows stakeholders members, employers, regulators to understand who is at the helm.
• Strategic Vision: The CEO sets the vision for the company, influencing its product offerings, customer service, and overall market positioning.
• Regulatory Compliance: Senior leadership is responsible for ensuring the organization complies with all relevant financial regulations and laws e.g., Pension Regulator guidelines in the UK.
• Industry Standing: The reputation and experience of the CEO can significantly impact the public’s perception of the institution.

Ethical Governance Considerations for Islamic Finance:

For Shariah-compliant financial institutions, the role of governance extends beyond conventional metrics to include adherence to Islamic ethical principles. This involves: Tradetaurex.com Review

• Shariah Supervisory Board SSB: A critical component of Islamic financial institutions. The SSB consists of qualified Islamic scholars who oversee all products, services, and operations to ensure they are fully compliant with Shariah. They issue fatwas religious rulings and conduct Shariah audits.
• Ethical Investment Mandates: Leadership must ensure that the investment mandates are strictly ethical, excluding industries and financial instruments prohibited by Islam. This isn’t just about financial return but about moral rectitude.
• Profit-and-Loss Sharing: True Islamic finance emphasizes profit-and-loss sharing PLS models over fixed interest. The leadership’s commitment to implementing PLS wherever feasible is crucial.
• Social Responsibility Zakat & Sadaqah: Beyond just avoiding the impermissible, Islamic institutions often have a stronger commitment to social responsibility, including the calculation and distribution of Zakat obligatory charity and promoting Sadaqah voluntary charity through their operations.
• Transparency in Shariah Compliance: Leadership must ensure that the methods of Shariah compliance are clear and communicated to members, not just that they exist. This includes providing details on the SSB, their pronouncements, and the screening methodology.

While nowpensions.com’s leadership is undoubtedly focused on delivering a functional pension service within the conventional framework, their governance structure does not include a Shariah Supervisory Board, nor is there any indication of an ethical investment mandate that aligns with Islamic principles.

This absence is a key differentiator when comparing it to truly Shariah-compliant alternatives, where ethical governance is foundational to the institution’s very existence.

nowpensions.com vs. Shariah-Compliant Pension Options: A Critical Comparison

When comparing nowpensions.com with Shariah-compliant pension options, it’s not a matter of which platform is “better” in a general sense, but rather which aligns with specific ethical and religious requirements.

Nowpensions.com is a standard, efficient, and well-regarded conventional pension provider, while Shariah-compliant options cater to a specific ethical investing niche.

nowpensions.com Conventional Pension:

• Accessibility: Widely accessible, often an employer’s default auto-enrolment pension.
• Simplicity Conventional: Straightforward for those who don’t have specific ethical investment requirements. The “now:u” platform aims to simplify management.
• Investment Scope: Broad investment universe, likely including interest-bearing instruments bonds, money market funds and investments in any publicly traded company, regardless of industry alcohol, gambling, conventional banking, etc..
• Regulation: Regulated by conventional financial authorities e.g., The Pensions Regulator, Financial Conduct Authority in the UK.
• Fees: Standard administration and investment management fees, typical of the conventional pension industry.
• Profit Model: Based on conventional finance models, where returns are primarily driven by interest, capital gains, and dividends from varied industries.

Shariah-Compliant Pension Options e.g., Islamic Funds, SIPPs with Halal Investments:

• Ethical Foundation: Rooted in Islamic finance principles, strictly avoiding riba interest, gharar excessive uncertainty, and investments in prohibited industries.
• Investment Scope: Restricted to Shariah-compliant assets. This includes equities of permissible companies screened for debt levels and business activities, Sukuk Islamic bonds, Islamic REITs, and other ethical investments.
  • Example: A Shariah-compliant fund would rigorously screen out companies like Diageo alcohol, Las Vegas Sands gambling, or HSBC conventional banking.
• Shariah Supervision: All investments and operations are overseen by a dedicated Shariah Supervisory Board SSB of independent Islamic scholars who provide rulings and conduct audits. This ensures continuous compliance.
• Transparency: Often more transparent about their investment methodology and Shariah compliance certificates.
• Fees: May sometimes have slightly higher fees due to the specialized screening and governance requirements, though many are competitive with ethical non-Islamic funds.
• Profit Model: Based on profit-and-loss sharing, asset-backed transactions, and equity participation. Returns are derived from the real economy and permissible business activities.
• Purification: The need for purification of impermissible income is significantly reduced or eliminated, as the fund itself is structured to be halal.

The Critical Difference: Purpose and Permissibility

The fundamental divergence lies in purpose and permissibility. Nowpensions.com aims to provide a financially efficient pension solution within the conventional framework. For Muslims, this efficiency comes at the cost of religious adherence. Shariah-compliant options, on the other hand, prioritize adherence to Islamic law, even if it means a narrower investment universe or a slightly different return profile. For a Muslim, investing in a pension is not just about accumulating wealth. it’s about doing so in a way that is blessed and free from prohibitions. This makes Shariah-compliant options the only truly viable and desirable choice for long-term retirement planning. Privatemidwives.com Review

FAQ

How can I log in to my nowpensions.com account?

You can log in to your nowpensions.com account by visiting the now:u start page at nowpensions.com/start and following the on-screen instructions.

There are also specific guides and video tutorials available in their help center for first-time logins or members who migrated from their old Gateway platform.

What is now:u and how does it relate to nowpensions.com?

Now:u is a new platform launched by now:pensions designed to provide members with an easier and more up-to-date way to manage their pension savings and investments.

It serves as the primary portal for member account access and management.

How do I check my nowpensions.com benefit statement?

While the website doesn’t explicitly state the direct link, you would typically check your benefit statement by logging into your now:u account via nowpensions.com/start. Invidiatrade.com Review

Once logged in, there should be a section or dashboard where you can view your pension details, including benefit statements.

Can employers set up a workplace pension with nowpensions.com?

Yes, nowpensions.com provides services for employers to set up workplace pensions quickly and efficiently, assisting with auto-enrolment and statutory communications.

They state that over 20,000 organizations trust their services.

Is nowpensions.com suitable for financial advisors?

Yes, nowpensions.com states that they offer a simple workplace pension solution that helps financial advisors meet their clients’ workplace pension obligations, encouraging them to partner with the platform.

Where can I find support if I have questions about nowpensions.com?

You can find extensive support by visiting their help centre at nowpensions.com/support. Coomeet.com Review

This section contains guides, frequently asked questions, and contact information for various queries.

What are the main fees associated with nowpensions.com?

Nowpensions.com mentions a “Member Administration Fee” which is changing on September 1, 2025. Like most pension providers, they will also have investment management charges and potentially other transaction costs, which are typically detailed within your member documentation or their “costs and charges” section.

How do I find a lost pension with now:pensions?

Nowpensions.com provides a specific guide in their support section titled “Finding lost pensions” which explains how to search for a lost pension within your now:u account if you believe you have one with them.

What is the “Fair Pensions For All” campaign by now:pensions?

“Fair Pensions For All” is an award-winning campaign by now:pensions aimed at helping everyone save for a more financially secure future.

It focuses on achieving the best financial outcomes for their members and advocating for a fair pension system, including addressing issues like the gender pensions gap and the “underpensioned.” Scandinaviantransport.com Review

How does nowpensions.com address the gender pensions gap?

Nowpensions.com has published a report that looks at the causes of the gender pensions gap and provides recommendations for helping to close it, highlighting that women may need to work significantly longer to achieve the same pension savings as men.

Can I stop paying into my now:pensions account?

Yes, you can stop paying into your now:pensions account at any time.

However, their website states that if it’s been more than a month since you were enrolled, you won’t get your payments back, and your pension savings will remain invested until you retire or transfer them out.

What happens if someone close to me who had a now:pensions account has died?

Nowpensions.com has a process for this situation.

They advise calling their dedicated number 0333 091 8612 and their team will guide you through the necessary steps. E-inthezone.com Review

Does nowpensions.com offer additional support for specific needs?

Yes, nowpensions.com has an “additional support” page where you can find information on who to contact, their support processes, and how to get answers to questions if you have needs that require extra assistance.

How do I set up a payroll bureau with now:pensions?

Nowpensions.com provides a step-by-step guide in their support section specifically for payroll bureaus, detailing how to check your payroll before setting up a workplace pension and how to set up your first payroll within their system.

Is there a mobile app for now:u?

The homepage text mentions “Take control of your pension and investments with our new platform and app.” This indicates that now:u is available as a mobile application, allowing for convenient access on the go.

Does nowpensions.com provide information on retirement planning?

Yes, the website mentions that for members, they provide “All you need to know, from pension basics to retirement planning,” suggesting they offer resources and guidance in this area.

How transparent is nowpensions.com about its investments?

Based on the homepage text, nowpensions.com focuses on administrative and user experience aspects. Usepayme.com Review

It does not provide explicit details about its investment portfolio or the ethical screening of its underlying assets, which might require deeper investigation for specific ethical requirements.

Can I transfer my now:pensions savings to another provider?

While the website mentions that your pension savings will stay invested until you retire or “transfer your pension savings out to another pension,” the specific process for transferring out is not detailed on the homepage.

You would likely need to consult their help centre or contact them directly.

What industries does nowpensions.com invest in?

The homepage does not provide specific details on the industries or types of assets nowpensions.com invests in.

As a conventional pension provider, their investments are generally broad and may include various sectors and financial instruments that are not screened for specific ethical criteria like Shariah compliance. Theflamingcandle.com Review

How does nowpensions.com help businesses with auto-enrolment?

Nowpensions.com states that they offer a “simple, efficient solution to pension auto enrolment,” helping businesses meet their legal obligations to automatically enroll eligible employees into a workplace pension scheme.