FAQs for Employers

Our employer service charge is just £36 a month when you work directly with us. If you’re using the services of a payroll bureau to manage your payroll and provide us with data, the monthly employer service charge starts at £12.50.

There’s a significant discount if you use a payroll bureau compared to working with us directly. This reflects the considerable amount of support payroll bureaus provide with auto enrolment administration.

We don’t charge any set-up fees.

If you want to discuss any aspects of our charging structure, please contact us.

Your members pay three different charges:

• Monthly administration charge. This is for running the Scheme. It costs £1.75 a month or £21 a year. But we won’t take the full administration charge if it would make the value of their pension savings lower than £100.
• Investment management charge. This is for investing the money in the Scheme. It costs 0.3% of the value of their pension savings every year.
• Transaction costs. These are for buying and selling investments. We don’t charge for them separately. We factor them into the returns on the Scheme’s investments.

You can see the combined effect of the monthly administration charge, investment management charge and transaction costs over time in our costs and charges booklet.

The government has announced that all auto enrolment pension schemes, including ours, must waive their flat fee administration charges for individual members who would have pension savings of £100 or less in their pot after deduction of the fee. This is in line with pension legislation and aims to help prevent employees with small amounts of pension savings (small pots) having their savings eroded by charges.