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    • 123jm123
    • By 123jm123 4th Oct 16, 2:23 PM
    • 1Posts
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    123jm123
    Auto-enrollment pension providers - comparison
    • #1
    • 4th Oct 16, 2:23 PM
    Auto-enrollment pension providers - comparison 4th Oct 16 at 2:23 PM
    Hi
    I'm an employer & at stage where I have top choose a provider for auto enrollment pension. Start date is April 2017.
    I've had a quick look but none of them seem very good value for the employee - often taking the first £200 that the employee "saves"
    Is there a comparison somewhere that anyone knows of? I've googled it & just get loads of ads.
    Thanks in advance :-)
Page 1
    • dunstonh
    • By dunstonh 18th Oct 16, 4:44 PM
    • 85,102 Posts
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    dunstonh
    • #2
    • 18th Oct 16, 4:44 PM
    • #2
    • 18th Oct 16, 4:44 PM
    This forum gets very little viewing. The main pension section is the best place to post. We have pointed this out to the board admin but its still here.

    I've had a quick look but none of them seem very good value for the employee - often taking the first £200 that the employee "saves"
    Economies of scale. The more employees in a scheme, the more money the scheme will have and the better the terms will be.

    Workplace schemes are more costly to run than individual schemes. The pension providers that focus on small employers because the big providers arent interested are struggling. So, they have had to increase charges in some areas. Typically, most have low annual charges but have an admin charge. The charges are not that high typically unless the person is paying in tiny amounts.

    The example you give of £200 is not typical. Normally the employer pays the set up charge.

    Is there a comparison somewhere that anyone knows of? I've googled it & just get loads of ads.
    How many employees? If its less than 15 then you really only have a choice of a few. If its more than 15 then the insurers come into play.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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