Our charges
Our technology makes us efficient, reducing our operational costs and keeping our charges low
For employers
Our charges are flexible and depend on:
- How large your business is and how many employees you have.
- Whether you sign up directly with us or through a payroll bureau or adviser.
For employers who already have a workplace pension and those who sign up through one of our selected payroll providers or advisers there will be no employer charges.
For more information please contact our New Business Team at [email protected] or 0330 124 7409.
If you are a new employer signing up directly with us or an existing employer under a certain size, we will apply a small monthly charge of £22 +VAT to cover our operation costs and the support we provide for you and your employees.
What employers get with Smart Pension
Employer account – comply with auto enrolment legislation and extract real-time data and key management information, all at the touch of a button.
Streamlined pension admin – connecting your payroll software to Smart Pension and automating pension uploads, saving hours of weekly admin.
Stand-out service – with full project management support, from transferring data to communicating the change to employees, we have a seamless process.
For members
All pension providers, including Smart Pension, charge fees for managing your pension savings. These cover the cost of servicing your workplace pension plan and the underlying investments.
- Our Total Expense Ratio covers the total cost of investing your pension and varies depending on the funds you are invested in.
- We may also charge a small monthly fee that supports the running of the pension scheme, including improving our member experience and providing our market-leading customer service.
- If the combined value of your pension savings is £100 or less, we will not charge you a monthly fee.
To find out the charges that apply to you sign in to your Smart Pension account.
What members get with Smart Pension
Easy-to-use app – with real-time pension information, members can access their account through the app or website.
Award-winning investments – our investments have a sustainable approach whilst also focusing on maximising returns for members.
Financial wellbeing – meaningful support provided to all members about all their finances, not just pensions.
Smart Rewards – free access to discounts and cashback at over 1,400 major retailers, saving members up to £600 a year.
For advisers
We don’t charge advisers for any services.
Find more helpful information for advisers in our Payroll Toolkit.