Opt out or ceasing membership

How you leave our pension scheme depends on when you were enrolled

‘Opt out' or 'cease membership', what's the difference?

If you'd like to leave our pension scheme, then there are two ways to do this. One is called 'opting out'. The other is 'ceasing membership'.

It's confusing because people say 'opt out' all the time, but the name for how you leave a pension scheme changes, depending on when you joined. It all depends on how long you’ve been enrolled into the scheme and whether you were automatically enrolled.

It's known as 'opting out' if you've been a member for less than one month

If you want to leave the scheme very soon after being automatically enrolled, it’s known as ‘opting out’. This can only happen if you've been a member of the scheme for less than one calendar month. In this situation, your employer will refund any money you've paid into the scheme, after deducting any tax, usually within a couple of months.

It's known as 'ceasing membership' if you've been a member for more than one month

If you want to leave the scheme after you've been a member for one month or more, then we call it ‘ceasing membership’ instead. We don't refund money in this situation, but you will have access to your savings after reaching retirement.

‘Opt out' or 'cease membership', what's the difference?

If you'd like to leave our pension scheme, then there are two ways to do this. One is called 'opting out'. The other is 'ceasing membership'.

It's confusing because people say 'opt out' all the time, but the name for how you leave a pension scheme changes, depending on when you joined. It all depends on how long you’ve been enrolled into the scheme and whether you were automatically enrolled.

It's known as 'opting out' if you've been a member for less than one month

If you want to leave the scheme very soon after being automatically enrolled, it’s known as ‘opting out’. This can only happen if you've been a member of the scheme for less than one calendar month. In this situation, your employer will refund any money you've paid into the scheme, after deducting any tax, usually within a couple of months.

It's known as 'ceasing membership' if you've been a member for more than one month

If you want to leave the scheme after you've been a member for one month or more, then we call it ‘ceasing membership’ instead. We don't refund money in this situation, but you will have access to your savings after reaching retirement.

How do you opt out of the Smart Pension scheme?

You can opt out of our pension scheme through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for less than one month then the page will give you the choice to opt out. If you've been a member of our scheme for more than one month, then the same page will give you the choice to cease membership instead.

How do you opt out of the Smart Pension scheme?

You can opt out of our pension scheme through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for less than one month then the page will give you the choice to opt out. If you've been a member of our scheme for more than one month, then the same page will give you the choice to cease membership instead.

How do you cease membership of the Smart Pension scheme?

You can cease membership through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for more than one month, then the page will give you the choice to cease membership. We don't refund money to you in this situation, but you will have access to your pension savings when you reach your retirement age. If you've been a member of our scheme for less than one month then the page will give you the choice to opt out instead.

How do you cease membership of the Smart Pension scheme?

You can cease membership through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for more than one month, then the page will give you the choice to cease membership. We don't refund money to you in this situation, but you will have access to your pension savings when you reach your retirement age. If you've been a member of our scheme for less than one month then the page will give you the choice to opt out instead.

How do you ask to rejoin the pension scheme?

If you opt out of the scheme, you can ask to opt in again at any time as long as you’re still working for the same employer. But your employer only has to accept that request once every 12 months.

Your employer should also check your personal details once every three years or so to see if you should be re-enrolled. If your decision to opt out happens less than a year from when they carry out re-enrolment, then they may not include you in these checks. But they should include you next time.

If you decide you want to rejoin the scheme, then you can ask to be re-enrolled at any time as long as you’re still working for the same employer. Your employer might not accept this request if you leave the scheme and try to rejoin it multiple times in a twelve-month period.

How do you ask to rejoin the pension scheme?

If you opt out of the scheme, you can ask to opt in again at any time as long as you’re still working for the same employer. But your employer only has to accept that request once every 12 months.

Your employer should also check your personal details once every three years or so to see if you should be re-enrolled. If your decision to opt out happens less than a year from when they carry out re-enrolment, then they may not include you in these checks. But they should include you next time.

If you decide you want to rejoin the scheme, then you can ask to be re-enrolled at any time as long as you’re still working for the same employer. Your employer might not accept this request if you leave the scheme and try to rejoin it multiple times in a twelve-month period.

Can you opt in during a postponement period?

Some employers open a workplace pension scheme but choose not to enrol employees immediately. A short delay may make part of their administration easier. That delay is called ‘postponement’.

Employers should let you know if they're going to use postponement. But if you want to, you can opt in straight away and start paying into the scheme.

Can you opt in during a postponement period?

Some employers open a workplace pension scheme but choose not to enrol employees immediately. A short delay may make part of their administration easier. That delay is called ‘postponement’.

Employers should let you know if they're going to use postponement. But if you want to, you can opt in straight away and start paying into the scheme.

Instant changes to your
pension savings

You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.

Instant changes to your
pension savings

You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.

Instant changes to your
pension savings

You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.

Instant changes to your
pension savings

You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.

Instant changes to your
pension savings

You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.

‘Opt out' or 'cease membership', what's the difference?

If you'd like to leave our pension scheme, then there are two ways to do this. One is called 'opting out'. The other is 'ceasing membership'.

It's confusing because people say 'opt out' all the time, but the name for how you leave a pension scheme changes, depending on when you joined. It all depends on how long you’ve been enrolled into the scheme and whether you were automatically enrolled.

It's known as 'opting out' if you've been a member for less than one month

If you want to leave the scheme very soon after being automatically enrolled, it’s known as ‘opting out’. This can only happen if you've been a member of the scheme for less than one calendar month. In this situation, your employer will refund any money you've paid into the scheme, after deducting any tax, usually within a couple of months.

It's known as 'ceasing membership' if you've been a member for more than one month

If you want to leave the scheme after you've been a member for one month or more, then we call it ‘ceasing membership’ instead. We don't refund money in this situation, but you will have access to your savings after reaching retirement.

‘Opt out' or 'cease membership', what's the difference?

If you'd like to leave our pension scheme, then there are two ways to do this. One is called 'opting out'. The other is 'ceasing membership'.

It's confusing because people say 'opt out' all the time, but the name for how you leave a pension scheme changes, depending on when you joined. It all depends on how long you’ve been enrolled into the scheme and whether you were automatically enrolled.

It's known as 'opting out' if you've been a member for less than one month

If you want to leave the scheme very soon after being automatically enrolled, it’s known as ‘opting out’. This can only happen if you've been a member of the scheme for less than one calendar month. In this situation, your employer will refund any money you've paid into the scheme, after deducting any tax, usually within a couple of months.

It's known as 'ceasing membership' if you've been a member for more than one month

If you want to leave the scheme after you've been a member for one month or more, then we call it ‘ceasing membership’ instead. We don't refund money in this situation, but you will have access to your savings after reaching retirement.

‘Opt out' or 'cease membership', what's the difference?

How do you opt out of the Smart Pension scheme?

You can opt out of our pension scheme through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for less than one month then the page will give you the choice to opt out. If you've been a member of our scheme for more than one month, then the same page will give you the choice to cease membership instead.

How do you opt out of the Smart Pension scheme?

You can opt out of our pension scheme through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for less than one month then the page will give you the choice to opt out. If you've been a member of our scheme for more than one month, then the same page will give you the choice to cease membership instead.

How do you opt out of the Smart Pension scheme?

How do you cease membership of the Smart Pension scheme?

You can cease membership through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for more than one month, then the page will give you the choice to cease membership. We don't refund money to you in this situation, but you will have access to your pension savings when you reach your retirement age. If you've been a member of our scheme for less than one month then the page will give you the choice to opt out instead.

How do you cease membership of the Smart Pension scheme?

You can cease membership through your Smart Pension account.

  • sign in to your Smart Pension account
  • In the menu, choose 'Profile Details' and then 'Manage Membership'

If you've been a member of our scheme for more than one month, then the page will give you the choice to cease membership. We don't refund money to you in this situation, but you will have access to your pension savings when you reach your retirement age. If you've been a member of our scheme for less than one month then the page will give you the choice to opt out instead.

How do you cease membership of the Smart Pension scheme?

How do you ask to rejoin the pension scheme?

If you opt out of the scheme, you can ask to opt in again at any time as long as you’re still working for the same employer. But your employer only has to accept that request once every 12 months.

Your employer should also check your personal details once every three years or so to see if you should be re-enrolled. If your decision to opt out happens less than a year from when they carry out re-enrolment, then they may not include you in these checks. But they should include you next time.

If you decide you want to rejoin the scheme, then you can ask to be re-enrolled at any time as long as you’re still working for the same employer. Your employer might not accept this request if you leave the scheme and try to rejoin it multiple times in a twelve-month period.

How do you ask to rejoin the pension scheme?

If you opt out of the scheme, you can ask to opt in again at any time as long as you’re still working for the same employer. But your employer only has to accept that request once every 12 months.

Your employer should also check your personal details once every three years or so to see if you should be re-enrolled. If your decision to opt out happens less than a year from when they carry out re-enrolment, then they may not include you in these checks. But they should include you next time.

If you decide you want to rejoin the scheme, then you can ask to be re-enrolled at any time as long as you’re still working for the same employer. Your employer might not accept this request if you leave the scheme and try to rejoin it multiple times in a twelve-month period.

How do you ask to rejoin the pension scheme?

Can you opt in during a postponement period?

Some employers open a workplace pension scheme but choose not to enrol employees immediately. A short delay may make part of their administration easier. That delay is called ‘postponement’.

Employers should let you know if they're going to use postponement. But if you want to, you can opt in straight away and start paying into the scheme.

Can you opt in during a postponement period?

Some employers open a workplace pension scheme but choose not to enrol employees immediately. A short delay may make part of their administration easier. That delay is called ‘postponement’.

Employers should let you know if they're going to use postponement. But if you want to, you can opt in straight away and start paying into the scheme.

Can you opt in during a postponement period?

Smart Pension's fund choices

No items found.

Smart All Stocks Index - Linked Gilts Index Fund

0.75%
AMC

Aims to track the return of the FTSE Actuaries British Government Index Linked All Stocks Index, which features UK government bonds with returns linked to the Retail Price Index (RPI).

Smart Annuity Fund

0.75%
AMC

Aims to invest in a way which matches the broad characteristics of investments underlying the pricing of a typical non-inflation linked annuity.

Smart Cash Fund

0.75%
AMC

Aims to maintain capital and provide a return in-line with money market rates by investing in a range of money market securities denominated in sterling.

Smart De-risking Fund

0.75%
AMC

This fund has been created so that it will typically suit most of our members who are approaching their target retirement age and would like a lower level of volatility than the smart growth funds.

Smart Ethical Global Equity Index Fund

0.87%
AMC

Aims to track a filtered index, which excludes companies that operate in industries that breach certain ethical criteria.

Smart Future Fund

0.75%
AMC

This fund aims to replicate the asset allocation, performance and risk profile of our Smart Growth Moderate fund, whilst incorporating additionalscreening criteria that revalues the weighting of each investment depending on their Environmental, Social, and Governance (ESG) score. It aims to limit the additional risks associated with ESG factors.

Smart Growth Fund - Higher Risk

0.75%
AMC

This fund carries a higher risk of fluctuation to your savings but has the potential for high growth, though this is not guaranteed

Smart Growth Fund - Lower Risk

0.75%
AMC

This fund carries the lowest risk of loss but also reduced likelihood of a high return, but it may be suitable if you are concerned about volatility.

Smart Growth Fund - Moderate Risk

0.75%
AMC

This fund has been created so that it will typically suit most our members, it has the medium level of risk of these funds.

Smart Income Fund

0.75%
AMC

Aims to provide long-term investment growth up to and during retirement, to facilitate the drawdown of retirement income.

Smart Lower Risk Fund

0.75%
AMC

This fund has been created so that it will typically suit most of our members who are approaching their target retirement age and would like an even lower level of volatility than the smart growth funds and the de-risking fund.

Smart North America Equity Index Fund

0.75%
AMC

Aims to track the return of the FTSE World North America Index, which provides broad exposure to companies in the North American equity market.

Smart Overseas Bond Index Fund - GBP Hedged

0.85%
AMC

Aims to invest in different types of bonds, including corporate and government bonds both in the UK and overseas.

Smart Sharia Fund

1.01%
AMC

Aims to create long term appreciation of capital through investment in a diversified portfolio of securities which meets Islamic investment principles.

Smart UK FTSE 100 Equity Index Fund

0.75%
AMC

Aims to track the return of the FTSE 100 Index, which contains the largest listed companies on the UK stock market.

Smart World (ex UK) Developed Equity Index Fund

0.75%
AMC

Aims to track the performance of the FTSE Developed (ex UK) Index, which provides broad exposure to large and mid-cap companies in the developed world, excluding the UK.

Smart World Emerging Markets Equity Index Fund

1.12%
AMC

Aims to track the return of the FTSE All-World Emerging Index, which provides access to key emerging economies including Brazil, Russia, India and China.

Smart Pension's fund choices

Smart All Stocks Index - Linked Gilts Index Fund

0.75%
AMC

Aims to track the return of the FTSE Actuaries British Government Index Linked All Stocks Index, which features UK government bonds with returns linked to the Retail Price Index (RPI).

Smart Annuity Fund

0.75%
AMC

Aims to invest in a way which matches the broad characteristics of investments underlying the pricing of a typical non-inflation linked annuity.

Smart Cash Fund

0.75%
AMC

Aims to maintain capital and provide a return in-line with money market rates by investing in a range of money market securities denominated in sterling.

Smart De-risking Fund

0.75%
AMC

This fund has been created so that it will typically suit most of our members who are approaching their target retirement age and would like a lower level of volatility than the smart growth funds.

Smart Ethical Global Equity Index Fund

0.87%
AMC

Aims to track a filtered index, which excludes companies that operate in industries that breach certain ethical criteria.

Smart Future Fund

0.75%
AMC

This fund aims to replicate the asset allocation, performance and risk profile of our Smart Growth Moderate fund, whilst incorporating additionalscreening criteria that revalues the weighting of each investment depending on their Environmental, Social, and Governance (ESG) score. It aims to limit the additional risks associated with ESG factors.

Smart Growth Fund - Higher Risk

0.75%
AMC

This fund carries a higher risk of fluctuation to your savings but has the potential for high growth, though this is not guaranteed

Smart Growth Fund - Lower Risk

0.75%
AMC

This fund carries the lowest risk of loss but also reduced likelihood of a high return, but it may be suitable if you are concerned about volatility.

Smart Growth Fund - Moderate Risk

0.75%
AMC

This fund has been created so that it will typically suit most our members, it has the medium level of risk of these funds.

Smart Income Fund

0.75%
AMC

Aims to provide long-term investment growth up to and during retirement, to facilitate the drawdown of retirement income.

Smart Lower Risk Fund

0.75%
AMC

This fund has been created so that it will typically suit most of our members who are approaching their target retirement age and would like an even lower level of volatility than the smart growth funds and the de-risking fund.

Smart North America Equity Index Fund

0.75%
AMC

Aims to track the return of the FTSE World North America Index, which provides broad exposure to companies in the North American equity market.

Smart Overseas Bond Index Fund - GBP Hedged

0.85%
AMC

Aims to invest in different types of bonds, including corporate and government bonds both in the UK and overseas.

Smart Sharia Fund

1.01%
AMC

Aims to create long term appreciation of capital through investment in a diversified portfolio of securities which meets Islamic investment principles.

Smart UK FTSE 100 Equity Index Fund

0.75%
AMC

Aims to track the return of the FTSE 100 Index, which contains the largest listed companies on the UK stock market.

Smart World (ex UK) Developed Equity Index Fund

0.75%
AMC

Aims to track the performance of the FTSE Developed (ex UK) Index, which provides broad exposure to large and mid-cap companies in the developed world, excluding the UK.

Smart World Emerging Markets Equity Index Fund

1.12%
AMC

Aims to track the return of the FTSE All-World Emerging Index, which provides access to key emerging economies including Brazil, Russia, India and China.