We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Smart pension ( smartpension.co.uk)

Pete990
Posts: 1 Newbie
I was enrolled into Smartpension.co.uk by my company. As I already had another pension, I cancelled it, but was told they had taken out an initial payment. Been trying for a year now to get reimbursed. Can't login, no one answers the phone etc. Look up smartpension.co.uk on Trustpilot and you will get an idea of their service.
Anybody else have the same experience with this lot ?
0
Comments
-
I was enrolled into Smartpension.co.uk by my company. As I already had another pension, I cancelled it,
Cancelled what, the other pension or smart pension??
0 -
If your employer is using bog standard auto-enrolment, they will have to contribute 3% of your salary into the pension if you contribute 5%. Many employers are more generous than that.
That 5% comes off your gross income (i.e. it isn't taxed) so the actual cost to you is less than 5%.
Is your employer contributing into your other pension? If not, and you are opting out of auto-enrolment anyway, you are throwing away free money.0 -
Pete990 said:I was enrolled into Smartpension.co.uk by my company. As I already had another pension, I cancelled it, but was told they had taken out an initial payment. Been trying for a year now to get reimbursed. Can't login, no one answers the phone etc. Look up smartpension.co.uk on Trustpilot and you will get an idea of their service.Anybody else have the same experience with this lot ?0
-
Pete990 said:I was enrolled into Smartpension.co.uk by my company. As I already had another pension, I cancelled it, but was told they had taken out an initial payment. Been trying for a year now to get reimbursed. Can't login, no one answers the phone etc. Look up smartpension.co.uk on Trustpilot and you will get an idea of their service.Anybody else have the same experience with this lot ?
If you are sure you followed the correct opt out procedure (it'll be in the paperwork you received) and did so within one month, then make a formal complaint: complaints@smartpension.co.ukGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
As I already had another pension, I cancelled it, but was told they had taken out an initial payment.
Did you opt out in the first month? The term "cancelled" doesn't apply to workplace schemes. So, just checking the terminology with you.
If you failed to opt out in month 1, you do not get a refund of any contributions made previously.
Having another pension is not a sensible reason to opt out and throw away free money.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Why are you giving up free money from your employer?
It's easy to transfer your old pension into Smart Pension.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 349.9K Banking & Borrowing
- 252.7K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.9K Work, Benefits & Business
- 619.7K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards