Important changes to the administration services

Signpost

Welcome to the change hub, providing you with information about the move of the benefits administration and pensioner payroll services to Buck Consulting, a specialist third-party administrator. Click or tap on the topics that you want to explore below. If you need to get in touch, please use the Contacts form.

What you need to know

The Trustee will continue to be custodians of the Fund and responsible for the management and the investments as we are today.

It’s important to know that this change will not affect your benefits, entitlements or any choices you’ve made regarding your pension.

From 21 February 2022 Buck Consulting will provide administration services to the Fund. This includes holding and maintaining your pension records, calculating member benefits and paying pensions. They will be your point of contact for questions about your benefits and will write to you regarding your pension benefits and retirement options.

While changing our administrator is a major exercise, please be assured we’re working hard behind the scenes to make sure it's a smooth transition.

There’ll be a short period, from 15 February to 18 February, where the Nationwide Employee Pensions team won’t be able to process any transactions whilst all membership data is transitioned to Buck. However, they will still be able to answer any queries.

Thinking of retiring?

If you're thinking about receiving your pension from the NPF during the transition to Buck, please note that it may take a little longer than usual to process your request. If you haven't already, please contact the Nationwide Employee Pensions team as soon as you're ready to discuss your options. The best way to contact them is by using our new online Contacts form

The Member Portal

We’re always looking for ways to improve the member experience. That’s why we’re launching a new and improved Nationwide Pension Fund Member Portal. It’ll allow you quick and simple access to more of your pension information, helping you to keep on top of your retirement and manage your benefits — you’ll be able to log in to your new Member Portal at any time on a desktop computer, smartphone or tablet.

The current Member Portal will still be available until the move but will be 'read only' from 24 January 2022. If you need to make any changes to your personal details during this time, please contact the Nationwide Employee Pensions team

Questions and answers

We want to make sure you have no concerns about the move so we’re keeping you informed as we transfer the services to Buck. We know some of you will have questions and we’ve added the most common ones below, which we will keep updated.

Questions about Buck

  1. Who is Buck Consulting?
    Buck is a market leading third party pensions administration business, looking after some of the UK’s largest pension schemes. They pride themselves on their technical innovation and forward-thinking approach. They’re committed to making sure you’ll be given ‘best-in-class’ service and your data is kept secure. For more information about Buck and what they do, you can visit their website www.buck.com

  2. What are the contact details for the new team?
    From 21 February you can contact the Buck administration team by:

    • Email: NPF@buck.com
    • Phone: 0330 123 9677
    • Postal address: Nationwide Pension Fund, Buck (Bristol), PO Box 319, Mitcheldean, GL14 9BF

    Until then, please continue to contact the Nationwide Employee Pensions team if you have any queries about your benefits. The best way to contact them is using the new online Contacts form.

  3. What are Buck doing about helping the Environment?
    Buck view their corporate social responsibility through a lens of shared success. They strive to invest their resources for the betterment of their colleagues, communities, and environment, enriching the lives of those they touch, and ensuring their continued long-term economic sustainability. This approach to CSR is delivered through three core pillars:

    • Corporate citizenship;
    • Human rights; and
    • Environmental responsibility.

Questions about the changes

  1. Why are we changing provider?
    The main reasons for this change include:

    • The systems we currently use within our in-house Pensions team are getting old and need updating. Pension administration systems are extremely expensive to buy and to maintain. As a pensions administration specialist, Buck’s systems are modern and frequently updated, so by using the services of Buck, the Fund mitigates the cost, both now and in the future;
    • We want to continue to embrace the benefits of digital communications we know many of our members are enjoying, by providing an even better online Member Portal solution with more functionality. Buck can provide such an offering to members in a seamless way;
    • And most importantly, we want to make sure you continue to get the very best service. The current in-house pension team has delivered an excellent level of service to members for a long time, but over recent years, it’s been increasingly difficult to attract and retain pensions professionals of the standard we look for into a small in-house team. By moving to Buck, who provide services to a large number of pension schemes similar to ours, we’ll have access to a larger team of pensions professionals, and it allows us to benefit from the investments in their teams and training they receive. After all, pension administration is what they do!
  2. When are the changes happening?
    From 21 February 2022 Buck will provide administration services to the Nationwide Pension Fund.

  3. What changes are happening?
    Buck will be responsible for all administration services to the Fund. This includes maintaining records, calculating member benefits and paying pensions.

  4. How will this change affect my pension?
    This change won’t affect your benefits or entitlements, or any choices you’ve made regarding your pension. You’ll simply have a new team to contact as and when you need to.

  5. How long will the transition take?
    Nationwide and Buck have been working hard behind the scenes for several months to ensure a smooth and accurate handover of services. Buck will take over the administration services on 21 February 2022.

  6. How do I contact the Nationwide Pensions Team?
    Prior to 21 February 2022, please continue to contact the Nationwide Employee Pensions Team if you have any queries about your benefit. The best way to do this is by using the new Contacts form or by calling 01793 655131.

    From 21 February 2022 you can contact the NPF team at Buck by:

    • Email: NPF@buck.com
    • Phone: 0330 123 9677
    • Postal address: Nationwide Pension Fund, Buck (Bristol), PO Box 319, Mitcheldean, GL14 9BF
  7. Do I need to do anything?
    No. We’ve got everything under control and will make sure all of your pension information is transferred seamlessly.

    If you’re thinking about retiring soon, please contact the Employee Pensions Team as soon as you’re ready to discuss your options.

  8. Will there be anyone left at Nationwide who can help me with my pension?
    From 21 February 2022, all questions about your benefits in the NPF should go to Buck.

    If you’re still employed by Nationwide, you have a Nationwide Group Personal Pension (GPP) and your question relates to the GPP, you can raise a Service Request on PeopleCloud and select Pensions in the category search.

Questions if you're a Deferred member

  1. How does it affect me as a Deferred member?
    Buck will be responsible for all administration services to the Fund from 21 February 2022. This includes maintaining records, calculating member benefits and paying pensions.

  2. Would it be better to retire before the change?
    The transition of services will not make any difference to when you retire. Your benefits and retirement options will not be impacted by the transition of services to Buck.

  3. Who would I contact when I do come to apply for my pension at retirement?
    Prior to 21 February 2022, please continue to contact the Nationwide Employee Pensions Team if you have any queries about your benefits. The best way to contact them is using the new Contacts form.

    From 21 February 2022 you can contact the NPF team at Buck by:

    • Email: NPF@buck.com
    • Phone: 0330 123 9677
    • Postal address: Nationwide Pension Fund, Buck (Bristol), PO Box 319, Mitcheldean, GL14 9BF
  4. Will my benefits be affected by this?
    This change won’t affect your benefits or entitlements, or any choices you’ve made regarding your pension.

    If you have any other questions about being a Deferred member you can visit the general Q&A page on the Fund website

Questions if you're a Pensioner member

  1. How does it affect me as a Pensioner member?

    • Buck will be responsible for paying your monthly pension from March 2022;
    • Buck will appear on your HMRC personal tax account from the first pension payment on 21 March 2022;
    • Your pension records will be held by Buck; and
    • Going forward, Buck will be your point of contact and will write to you regarding your pension benefits.
  2. Will this change affect my tax code?
    HM Revenue and Customs (HMRC) have been notified that Buck is now paying you your pension from the Fund. This is important to make sure your payments are recorded using the correct Pay As You Earn (PAYE) reference.

    In some instances, when an individual is moved from one PAYE reference to another, this results in HMRC issuing a P161 (Age Related Personal Allowance) form. If you receive this form, we’d encourage you to check it carefully, paying specific attention to the tax code. HMRC systems are now highly automated and there have been instances when an individual has transferred to a new PAYE reference, that HMRC have issued an incorrect tax code.

    If you believe your tax code may be incorrect, contact them at:

    Pay As You Earn,
    HM Revenue and Customs,
    BX9 1AS
    United Kingdom

    Alternatively, you can call the tax office on 0300 200 3300 (if you’re outside the UK please call +44 135 535 9022). If you need to use a textphone the number you should call is 0300 200 3319.

    In all communications with HMRC you should include our PAYE reference number (shown on a recent payslip) and your National Insurance number.

    Unfortunately, HMRC will only deal directly with you, they will not take instructions from us on your behalf.

  3. Will I receive paper payslips?
    Buck will process your pension on the 21st of each month (first one being 21 March 2022). A payslip for your first payment made by Buck will be posted to you and following that, if your pension changes by more than £1 a month, you’ll receive a postal payslip.

    From March 2022, only payslips produced by Buck will be available on the Member Portal.

  4. Will my PAYE reference number change?
    From 21 March 2022 your PAYE number will change and this can be found on the payslip which you’ll receive from Buck. Both Nationwide and Buck are working on this change, have already notified HMRC about it and will continue to work together over the Spring.

  5. Will my pension be paid on time?
    The date you receive your monthly pension will remain unchanged. Your pension will be paid on the 21st of each month, unless that falls on a weekend, in which case it will be the Friday before.

  6. Who will send me my P60?
    You’ll receive a P60 in the post from Buck around May 2022 confirming the total pension you’ve received from the Fund in the 2021/22 tax year along with the total amount of tax paid.

    If you have any other questions about being a Pensioner member you can visit the general Q&A page on the Fund website.

Questions about the Member Portal

  1. Will my login details be the same?
    Yes, the login details will remain the same, although the first time you access the new Member Portal, you’ll be prompted to change your username and password.

  2. How do I use the new Member Portal?
    There’s a link to access the current Member Portal on the Fund website home page. That same link will take you to the new Member Portal from 21 February 2022.

  3. I’ve not registered on the Member Portal before, how do I find my unique code?
    In October, we sent everybody who hasn’t registered on the Member Portal a paper copy of the Annual Review. We included a covering postcard with your unique code on it. Don’t worry if you no longer have that as you can contact the Nationwide Pensions Team and they can reset it for you.

    If you have any other questions about the Member Portal you can visit the general Q&A page on the Fund website.