Smart Pension scheme
Posted: November 25th, 2021, 7:36 pm
What do members know of, or have any experience of, "Smart Pension" scheme, which my step-daughter seems to have arbitrarily put into by her fairly new employer.
She's been having pension deductions taken from her salary since last April and it has taken until now to get details of the scheme from her Employer. The details consist of an introductory letter attached to an email, containing scant generic information and a link to the Smart Pension website (link below).
Going to the Smart Pension website, I find lots of vague information about what a pension is and how they invest wisely for your future, but no detailed specifics, no details of funds or investments into which your contributions are directed. There is mention of a total pension contribution figure of 8%, which they say comes from a combination of the employer's contribution, the employees contribution and tax relief, but with no breakdown of what percentage comes from whom/which.
https://www.smartpension.co.uk/about-us/our-story
I note the link refers to: "our investors include...", and mentions Legal & General, JP Morgan, Link Group, amongst others, which sounds like those companies invest in Smart Pension, though I suspect it might well mean that Smart Pension invests in those companies. The above, coupled with the fact that the introductory letter, directing my step-daughter to their website has 2 misspellings in her name and errors in her address, all of which doesn't inspire me with much confidence.
She's been having pension deductions taken from her salary since last April and it has taken until now to get details of the scheme from her Employer. The details consist of an introductory letter attached to an email, containing scant generic information and a link to the Smart Pension website (link below).
Going to the Smart Pension website, I find lots of vague information about what a pension is and how they invest wisely for your future, but no detailed specifics, no details of funds or investments into which your contributions are directed. There is mention of a total pension contribution figure of 8%, which they say comes from a combination of the employer's contribution, the employees contribution and tax relief, but with no breakdown of what percentage comes from whom/which.
https://www.smartpension.co.uk/about-us/our-story
I note the link refers to: "our investors include...", and mentions Legal & General, JP Morgan, Link Group, amongst others, which sounds like those companies invest in Smart Pension, though I suspect it might well mean that Smart Pension invests in those companies. The above, coupled with the fact that the introductory letter, directing my step-daughter to their website has 2 misspellings in her name and errors in her address, all of which doesn't inspire me with much confidence.