What should I tell my employees?
We’ll be communicating with all of your affected employees from the middle of October to let them know about these changes.
However, it may be a good idea to discuss these changes with them. You can let them know that the more money they have in their Smart Pension account, the more likely our new charging structure will reduce the amount they pay.
We’ll also be telling them about our new free pension consolidation service. This makes it easier for members to add other pension pots from previous jobs to their Smart Pension dashboard and transfer them over to us if they want to. That way, they can have all of their pension savings in one place and get a clearer idea of whether or not they're on track to meet their retirement goals.
It is quick and easy to do. You can let your employees know that they can access this feature by signing in to their Smart Pension account at www.smartpension.co.uk/sign-in and selecting Get started on the section labelled Bring your pensions together.