Smart Pension - New charge for employers

Peter247

As a sole trader who employs just one person, I took out a "Smart Pension" pension for my employee.

I have just been told that Smart Pension will apply a £15 +vat charge each month starting in December that I have to pay as an employer.
This forms a huge increase in the cost of providing this pension.

I need to give a months notice if I wish to change to an alternative pension provider. This means that I have to sort something out by the end of next week if I wish to go elsewhere.

Smart Pension was one of the government recommended pensions for small businesses when auto-enrolment was set up.

Does this affect any other small businesses?

triplea35

I believe Nest pensions is the largest/most popular. Hardly surprising as there are no set up or ongoing charges for the employer.

Cathy_mp

Does anyone have experience switching into NEST? I'm with Smart Pension as well and their tools are not worth the £15 +vat charge /month