What is auto enrolment?

Auto enrolment is a way of making sure employees can access a workplace pension scheme

Auto enrolment is a government initiative

We all need money when we retire. All UK employers must enrol their qualifying employees in a workplace pension scheme.

It sounds strange but, even though you're the employee who'll benefit from being a member in a workplace pension, you can’t enrol yourself. Your employer enrols you into the scheme automatically. Officially, it’s called automatic enrolment (although most people refer to it as auto enrolment). But you can make the decision to stop paying into an auto enrolment scheme whenever you want to.

Auto enrolment is a government initiative

We all need money when we retire. All UK employers must enrol their qualifying employees in a workplace pension scheme.

It sounds strange but, even though you're the employee who'll benefit from being a member in a workplace pension, you can’t enrol yourself. Your employer enrols you into the scheme automatically. Officially, it’s called automatic enrolment (although most people refer to it as auto enrolment). But you can make the decision to stop paying into an auto enrolment scheme whenever you want to.

Who pays money into the pension scheme?

As a minimum, you have to put in 5% and your employer must add at least 3% of your qualifying earnings ( the earnings your pension contributions are usually based on when you contribute to a pension scheme). 

Who pays money into the pension scheme?

As a minimum, you have to put in 5% and your employer must add at least 3% of your qualifying earnings ( the earnings your pension contributions are usually based on when you contribute to a pension scheme). 

Do you qualify for auto enrolment?

Usually, yes. It depends on your age, earnings, and where you usually work - but most employees will qualify. Auto enrolment was created to help as many employees as possible to save for the future. You should meet the criteria for auto enrolment if you are:

  • usually working for your employer in the UK
  • from age 22 but younger than the State Pension age
  • earning over £10,000 per year (that’s £833 a month or £192 a week)

Do you qualify for auto enrolment?

Usually, yes. It depends on your age, earnings, and where you usually work - but most employees will qualify. Auto enrolment was created to help as many employees as possible to save for the future. You should meet the criteria for auto enrolment if you are:

  • usually working for your employer in the UK
  • from age 22 but younger than the State Pension age
  • earning over £10,000 per year (that’s £833 a month or £192 a week)

Will you be auto-enrolled if you're under 22 or over state pension age?

For the tax year 2020-2021, if you’re earning more than £10,000 a year but younger than 22 or over the state pension age, then you won’t be enrolled into a scheme automatically. But you can still tell your employer you’d like to join.

When you turn 22, you should be enrolled in your employer’s scheme if you earn more than £10,000 a year.

Will you be auto-enrolled if you're under 22 or over state pension age?

For the tax year 2020-2021, if you’re earning more than £10,000 a year but younger than 22 or over the state pension age, then you won’t be enrolled into a scheme automatically. But you can still tell your employer you’d like to join.

When you turn 22, you should be enrolled in your employer’s scheme if you earn more than £10,000 a year.

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.

Auto enrolment is a government initiative

We all need money when we retire. All UK employers must enrol their qualifying employees in a workplace pension scheme.

It sounds strange but, even though you're the employee who'll benefit from being a member in a workplace pension, you can’t enrol yourself. Your employer enrols you into the scheme automatically. Officially, it’s called automatic enrolment (although most people refer to it as auto enrolment). But you can make the decision to stop paying into an auto enrolment scheme whenever you want to.

Auto enrolment is a government initiative

We all need money when we retire. All UK employers must enrol their qualifying employees in a workplace pension scheme.

It sounds strange but, even though you're the employee who'll benefit from being a member in a workplace pension, you can’t enrol yourself. Your employer enrols you into the scheme automatically. Officially, it’s called automatic enrolment (although most people refer to it as auto enrolment). But you can make the decision to stop paying into an auto enrolment scheme whenever you want to.

Auto enrolment is a government initiative

Who pays money into the pension scheme?

As a minimum, you have to put in 5% and your employer must add at least 3% of your qualifying earnings ( the earnings your pension contributions are usually based on when you contribute to a pension scheme). 

Who pays money into the pension scheme?

As a minimum, you have to put in 5% and your employer must add at least 3% of your qualifying earnings ( the earnings your pension contributions are usually based on when you contribute to a pension scheme). 

Who pays money into the pension scheme?

Do you qualify for auto enrolment?

Usually, yes. It depends on your age, earnings, and where you usually work - but most employees will qualify. Auto enrolment was created to help as many employees as possible to save for the future. You should meet the criteria for auto enrolment if you are:

  • usually working for your employer in the UK
  • from age 22 but younger than the State Pension age
  • earning over £10,000 per year (that’s £833 a month or £192 a week)

Do you qualify for auto enrolment?

Usually, yes. It depends on your age, earnings, and where you usually work - but most employees will qualify. Auto enrolment was created to help as many employees as possible to save for the future. You should meet the criteria for auto enrolment if you are:

  • usually working for your employer in the UK
  • from age 22 but younger than the State Pension age
  • earning over £10,000 per year (that’s £833 a month or £192 a week)

Do you qualify for auto enrolment?

Will you be auto-enrolled if you're under 22 or over state pension age?

For the tax year 2020-2021, if you’re earning more than £10,000 a year but younger than 22 or over the state pension age, then you won’t be enrolled into a scheme automatically. But you can still tell your employer you’d like to join.

When you turn 22, you should be enrolled in your employer’s scheme if you earn more than £10,000 a year.

Will you be auto-enrolled if you're under 22 or over state pension age?

For the tax year 2020-2021, if you’re earning more than £10,000 a year but younger than 22 or over the state pension age, then you won’t be enrolled into a scheme automatically. But you can still tell your employer you’d like to join.

When you turn 22, you should be enrolled in your employer’s scheme if you earn more than £10,000 a year.

Will you be auto-enrolled if you're under 22 or over state pension age?

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.