Employer pension charge
In most cases, you’ll have to pay a small monthly fee for our workplace pension, which we refer to as ‘employer pension charge’.
This fee covers the costs of us running your scheme and providing you with supporting services, and is typically between £30 and £50 a month.
What your employer pension charge will cover:
- Online webinars, user guides and video tutorials to help at every stage of the installation and scheme management process.
- A dedicated, UK-based workplace pension helpdesk providing installation and scheme management support.
- A simple online scheme management system to share your data with us.
To find out exactly what your employer pension charge will be, get a no-obligation quote online.
What will your employees need to pay?
As with all workplace pension schemes, your employees will have to pay an annual fund charge to cover the cost of us running their scheme. We deduct this directly from their pension plan automatically.
In line with government requirements, this charge will never be more than 0.75% of the employee’s pension pot per year if they stay in the default investment solution. That’s the equivalent of £7.50 for every £1,000 they invest.
If any members of your scheme decide to choose their own investment funds, they may have to pay additional charges for investing in these funds. We’ll always explain these charges clearly before an employee invests in a fund.
Workplace pension contributions
As an employer, one of your auto-enrolment obligations is to contribute to your workforce’s pensions. We refer to this as "employer pension contributions".
Your employees will also need to make regular contributions to their pension (which we refer to as "employee pension contributions").
Things you’ll need to know:
- Which of your employees will need to be enrolled into a workplace pension.
- Minimum contribution levels
- How contributions will vary based on the type of earnings
Learn more about pension contributions
How much will it cost?
Do you want to know how much auto-enrolment will cost you and your work force? We’ll need you to provide a few key details
Get an instant quote
Are you an employer with more than one company that you need to provide a workplace pension scheme for?
Talk to one of our experts on 0800 302 9507. Lines are open Monday to Friday from 9.00am – 5.00pm