Improving our service proposition for you and your employees

As your chosen pension provider, we want to continue to develop our proposition to better meet the needs of you and your employees now and in the future.

To improve the service we offer, we are introducing a new £15 + VAT per month employer charge from 1 December 2021. This will allow us to invest in our platform so that we can improve our service, as well as introduce new features and products to make your and your employees’ lives easier.

New services we are introducing

Other benefits you already get with your Smart Pension account

Frequently asked questions

Why are you introducing this new charge?

As your chosen pension provider, we want to continue to develop our proposition to better meet the needs of you and your employees now and in the future.

That means we need to invest in our platform so that we can enhance our service and introduce new features and products to make you and your employees’ lives easier.

Do other pension providers apply an employer charge?

The majority of other pension providers apply an employer charge. This charge can vary between different pension providers.

Does this charge apply to me if I have no employees in the pension scheme?

Yes, this charge will apply if you have an open account with us. If you do not have any employees who require a workplace pension, you can contact us to close your account.

Please note that if you have eligible employees in the future, you will need to enrol them into a pension scheme.

Can I opt out of the new charge?

You can’t opt out of the new monthly charge which is effective from 1 December 2021. You could, however, move to a new pension provider to meet your automatic enrolment duties but you’ll need to give us at least one months notice of closure.

Please be aware that the majority of other pension providers charge employers to use their pension scheme. We recommend that you review your options before making any decision.

How will I pay the charge?

The new charge will take effect from 1 December 2021 and the first payment will be taken from your existing Direct Debit on or around 1 January 2022.

You don't need to do anything – the charge will be added automatically to your existing monthly Direct Debit mandate.

Who can I contact to find out more information about the change?

Our support team is available on 0330 1247 408 or by email at ask@smartpension.co.uk.