Our charges
Working hard to keep our charges fair whilst providing you with an award-winning scheme
What it costs
Employer charges
Standard charges
We may apply a monthly employer account charge of £22 +VAT, which will automatically be taken from the Direct Debit mandate that an employer will be asked to set up when they join Smart Pension. We review these charges annually and will publish any updates on this website.
Account charge
By submitting an application, you agree to a monthly charge of £22 +VAT. We will calculate the amount of your first charge pro rata – this will be effective from the date you submit your application to join the scheme until the end of the month. We will collect the charge in arrears on the 1st day of the next month. After that, we will automatically take the full monthly charge in arrears on the 1st day of each month.
This charge may not apply to employers with an existing bespoke pricing arrangement with us – the correct charging structure will be automatically applied to your account.
We may be able to offer bespoke pricing for larger workplace clients. Get in touch with our new business team at [email protected] or call them on 0330 124 7409.
Contribution charges
There's no charge if you pay your contributions by Direct Debit. However, if you want to pay by BACS the charge is a one off set up fee of £250 plus a monthly fee of £50.
Adviser charges
We don’t currently charge advisers for any services. We review these charges annually and will publish any updates on this website.
Additional charges
We also apply some account management charges for additional services that we may provide if you request them.
Reconciliation service charge: £30 per half hour
Most employers or their advisers carry out reconciliation themselves and don't need this service. However, we can review an employer’s account with us to reconcile contribution data to payroll records, and if applicable, identify any inconsistencies that need correcting.
Default member charges
Our current charging structure for members whose employers have signed up with us directly is an annual total fund based charge of 0.30% and a monthly fee of £1.75. If the combined value of a member’s pension savings is £100 or less, we will not charge you this fee.
Our funds
Smart Active Impact Bond Fund
Aims to invest in bonds which have an environmental impact and generate financial return above the global green bond market, taking into account Environmental, Social and Governance issues when selecting investments.
Smart Active Impact Equity Fund
The aim of this fund is to invest in equities which provide growth over the long term (being a period of five years or more) and invest in companies that contribute to the achievement of the United Nations’ Sustainable Development Goals.
Smart Sustainable Growth Core
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas.
Smart Sustainable Growth Plus
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas to mitigate Environmental, Social and Governance risks and benefit people and the planet by having a high allocation to investments contributing to solutions for environmental and social issues.
Smart Growth Fund – Lower Risk
This fund carries the lowest risk of fluctuation to your savings than other growth funds available but also reduced likelihood of a high return. It may be suitable if you are concerned about volatility.
Smart Sustainable Growth Fund
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas to mitigate Environmental, Social and Governance risks and benefit people and the planet by having a moderate allocation to investments contributing to solutions for environmental and social issues.
Smart Growth Fund – Higher Risk
This fund carries a higher risk of fluctuation to your savings than other growth funds available but has the potential for high growth, though this is not guaranteed.
Smart UK Equity Index Fund
Aims to provide broad exposure to the UK stock market, taking into account Environmental, Social and Governance factors.
Smart World (ex UK) Developed Equity Index Fund
Aims to provide broad exposure to large and mid-cap companies in the developed world, excluding the UK, taking into account Environmental, Social and Governance factors.
Smart North America Equity Index Fund
Aims to provide broad exposure to companies in the North American equity market, taking into account Environmental, Social and Governance factors.
Smart World Emerging Markets Equity Index Fund
Aims to provide access to key emerging economies taking into account Environmental, Social and Governance factors.
Smart All Stocks Index – Linked Gilts Index Fund
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 Global Bond Index Fund
Aims to invest in different types of bonds in the UK and overseas, taking into account Environmental, Social and Governance factors.
Smart Cash Fund
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 Income Fund
Aims to provide long-term investment growth up to retirement, and to support flexible income during retirement, taking into account Environmental, Social and Governance factors.
Smart Annuity Fund
Aims to improve potential outcomes for investors likely to purchase fixed annuities by providing a diversified exposure to assets that reflect the broad characteristics of investments underlying a typical traditional level annuity product, incorporating Environmental, Social and Governance (“ESG”) considerations as part of the investment strategy.
The fund cannot provide full protection against changes in annuity rates for individual members as these also depend upon a number of other factors (e.g. changes to mortality assumptions).
Smart Sharia Fund
Aims to create long term appreciation of capital through investment in a diversified portfolio of securities which meets Islamic investment principles.
Smart Ethical and Climate Fund
Aims to track a filtered index, which excludes companies that operate in industries that breach certain ethical criteria.
In some cases, employers have an arrangement with Smart Pension that involves employees paying different charges, or paying a monthly charge as well as an annual total fund based charge. To find out specific charges, members can sign in to their Smart Pension account or contact customer services and ask for details.
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