If your employer is subscribed to Maji's pension tools, you will see a card on your dashboard with more information about your pension. However, the pot value will remain at £0.00 until you update it.
Does this mean I don't have any money in my pension? Does this mean I am missing out on my pension contributions?
No. Maji is not a pension provider, so we don't take or hold any of your money. Your pension savings remain in your pension account with your workplace pension provider. If you are currently enrolled into your workplace pension, your contributions (and your employer's contributions) will be going into this pot when you are paid (e.g. monthly).
Why should I update my pension valuation on Maji?
Maji is a financial wellbeing platform that helps you understand and explore your money and finances, so the information we show you on our platform is there to help you by making it easier for you to see what's going on with your accounts, assets and savings. If your pension valuation shows as £0.00 on Maji, this is not a reason to panic! But, updating it can help you see your pension savings in the context of your other finances.
How do I update my pension valuation on Maji?
You can update your pension valuation in two ways by clicking 'View scheme':
Firstly, many pension providers allow us to do a live link. This means you can use your existing pension provider login and password to connect your Maji account to your pension provider account. This allows Maji to show a live valuation of your pot, which saves you having to log into all your separate accounts to check out what's going on with your savings. NB: live link does not allow Maji to take or move any money from your account.
If you don't want to do a live link, don't have an online login, or your pension provider does not support live link, you can add a manual valuation on the 'valuation' page.
Adding a manual valuation means you can include your pension amount in your wealth dashboard and financial plans. We would recommend checking and updating this at least annually.