Smart pension ( smartpension.co.uk)

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 ?

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??

  • steampowered
    steampowered Posts: 6,176 Forumite
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    edited 4 November 2020 at 12:41PM
    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.  
  • Brynsam
    Brynsam Posts: 3,643 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Combo Breaker
    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 ?
    Why give up free employer money - I presume your employer isn't paying in to your other pension? What's wrong with having two pensions? Most of us will have plenty more than that in our lifetime!
  • Marcon
    Marcon Posts: 13,786 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Combo Breaker
    edited 4 November 2020 at 1:44PM
    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 this is your employer's auto-enrolment scheme, you would only be eligible for a refund if you opted out within the first month. If you didn't, the payment stays put. Badgering the pension provider won't alter the law.

    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.uk
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • dunstonh
    dunstonh Posts: 119,217 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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.
  • penners324
    penners324 Posts: 3,465 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Why are you giving up free money from your employer?
    It's easy to transfer your old pension into Smart Pension.
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