Why have I been automatically enrolled into a workplace pension?
Your employer is legally required to automatically enroll you into a workplace pension scheme if:
You are aged between 22 and State Pension age
You earn more than £10,000 per year (£833 a month or £192 per week) before tax
You ordinarily work in the UK
Auto-enrolment rules encourage you to save for retirement by ensuring that if you’re enrolled, your employer also makes contributions to your pension, boosting your savings. By staying in the scheme and benefiting from this money, along with tax relief on your contributions, you’re setting yourself up for a potentially more comfortable and financially secure future.
Find out more about why you have been automatically enrolled in your workplace pension scheme in our help article.
Important information: If you are thinking of opting out or ceasing membership you must read this section carefully
Leaving your pension scheme is a big decision and could have a significant impact on your financial future. You will then not receive pension contributions from your employer, which means you will miss out on free money for your retirement.
If you leave your pension scheme be aware that there are specific rules on re-joining so please think carefully.
The video below explains why your pension is important.
Financial reasons to stay with Smart Pension
Free money from your employer - if you stop paying into your pension, it’s like turning down free money, because your employer will stop paying in too.
The wonder of compound interest - while ceasing contribution may seem helpful short-term, small, regular contributions today can snowball into much greater growth over time.
Tax relief - contributing to your pension scheme could help you reduce the amount of tax you pay.
Smart Rewards discounts – You get free access to over 1,400 discounts, helping you save up to £600* a year at major retailers, including Amazon and Tesco.
Other benefits Smart Pension offer:
Smart Pension app – You can use the mobile app to stay on top of your retirement plans and manage your pension savings whenever and wherever you like.
Sustainable commitment – We offer a Fossil Fuel Free fund and are leading the race to net zero by 2040, so you can make sure your money helps the world around us.
Varied investment options–You don’t have to use one of our pre-built investment strategies – you can choose your own investments from our selection instead.
Easy transfers in – Our easy online tool can bring all of your other pensions together in just a few clicks – we do all of the hard work for you.
Making contributions is simple – If you want to boost your pension further you can make additional contributions easily online.
Straightforward withdrawals – Members who are eligible can easily withdraw funds through our Smart Retire option, which can also help plan and manage money in retirement.
Still thinking of opting out?
There are two different ways to leave a pension scheme. Which one you can use will depend on how long you've been a member:
Less than one month (Opt out) – if you're automatically enrolled by your employer but you don't want to be a part of the scheme, you can opt out of membership. This is the opt out window. You'll receive a refund for any contributions you've made within the opt out window. Please be aware that the refund will only be what you have paid in and not your employer's contribution.
To opt out, scroll down to Section A below.More than one month (Cease membership) – if you've been a member of the scheme for more than one month, but want to stop making contributions, you need to cease membership. Your contributions and your employer's contributions will stay invested, you will not get a refund.
To cease membership, scroll down to Section B below.
Section A
How to opt out
Sign in and select the Opt-out button at the bottom of the page.
You will be taken to the “Opt-out” page, from here click on the "I still don’t want to pay into this pension” button.
You should read the information on the next page carefully, and if you still want to opt out of this pension scheme, tick the boxes which confirm you are the scheme member and have understood the consequences and click on Opt out.
You also need to confirm why you would like to stop paying in by selecting a reason from the drop-down list.
A final warning pop up will appear. Type "I wish to opt out" in the box, to confirm.
Then, click the red Opt out button.
Section B
How to cease membership
Sign in and select the Stop paying in button at the bottom of the page.
You will be taken to the “Stop paying in to this pension” page, from here click on the "I still don’t want to pay into this pension” button.
You should read the information on the next page carefully, and if you still want to cease membership, tick the boxes which confirm you are a scheme member and have understood the consequences and click on Cease membership. You also need to confirm why you want to stop paying in by selecting a reason from the drop-down list.
A final warning pop up will appear. Type "I wish to cease membership" in the box, to confirm. Then, click the red Cease membership button.