Pension Provider Comparison

Pension
provider
Overall
Score
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About Aviva (Company Pension)

Aviva provides around 31 million customers worldwide with insurance, savings and investment products. They are the UK’s largest insurer and one of Europe’s leading providers of life and general insurance. This destination is for their Company Pension proposition, which is their workplace pension scheme for auto-enrolment.

For more information please visit the Aviva (Company Pension) website

Tax Relief Status Relief at Source
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to Aviva (Company Pension).
Ease of use
For payrolls that match Legal and General's frequency i.e. monthly, they are excellent. However, Aviva (Company Pension) only supports monthly contributions so we have reduced the score to reflect this.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating
Listed on The Pensions Regulator website Yes

About NEST

NEST has been set up by the government especially for auto enrolment. They exist to make sure that every employer has access to a workplace pension scheme that meets the requirements of the new pension rules.

From April 2017, NEST's restrictions on contributions and transfers are removed.

For more information please visit the NEST website

Tax Relief Status Relief at Source
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to NEST.
Ease of use
For payrolls that match Legal and General's frequency i.e. monthly, they are excellent. However, NEST only supports monthly contributions so we have reduced the score to reflect this.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating
Mastertrust Assurance Framework Yes
Listed on The Pensions Regulator website Yes

About People’s Pension

The People’s Pension is provided by B&CE. It’s a flexible and portable workplace pension, designed for people, not profit. With no shareholders, any surpluses are used for the benefit of its members

For more information please visit the People’s Pension website

Tax Relief Status Relief at Source by default but Net Pay available
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to People's Pension.
Ease of use
For payrolls that match Legal and General's frequency i.e. monthly, they are excellent. However, People's Pension only supports monthly contributions so we have reduced the score to reflect this. In addition, Other does not help to "rollup" contributions so we reduced the score further.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating
Mastertrust Assurance Framework Yes
Listed on The Pensions Regulator website Yes

About Smart Pension

Smart Pension was founded by experienced finance & technology professionals and has been designed specifically to support UK businesses faced with the challenges of auto enrolment. Their team spent over a year developing & testing the platform whilst also establishing the partnerships necessary to meet regulatory requirements and deliver a seamless end-to-end experience

For more information please visit the Smart Pension website

Tax Relief Status Net Pay
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to Smart Pension.
Ease of use
For payrolls that match Legal and General's frequency i.e. monthly, they are excellent. However, Smart Pension only supports monthly contributions so we have reduced the score to reflect this.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating
Mastertrust Assurance Framework Yes
Listed on The Pensions Regulator website Yes

About Standard Life Group Flexible Retirement Plan

With Standard Life Savings, you’ll have easy access to help, guidance and financial planning tools, so you can confidently take control of your life savings and make informed decisions about your future.

For more information please visit the Standard Life Group Flexible Retirement Plan website

Tax Relief Status Relief at Source
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to Standard Life Group Flexible Retirement Plan.
Ease of use
For payrolls that match Legal and General's frequency i.e. monthly, they are excellent. However, Standard Life Group Flexible Retirement Plan only supports monthly contributions so we have reduced the score to reflect this. In addition, Other does not help to "rollup" contributions so we reduced the score further.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating
Listed on The Pensions Regulator website Yes

About Aegon Retirement Choices (ARC)

Aegon is an international provider of life insurance, pensions and asset management. With approximately £542 billion assets under management, they have businesses in over 25 countries around the world and around two million customers in the UK alone.

For more information please visit the Aegon Retirement Choices (ARC) website

Tax Relief Status Relief at Source
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to Aegon Retirement Choices (ARC).
Ease of use
Whilst Aegon Retirement Choices (ARC) does not yet support data automation, their traditional means of processing is relatively easy to use. However, Aegon Retirement Choices (ARC) only supports monthly contributions so we have reduced the score to reflect this. In addition, Other does not help to "rollup" contributions so we reduced the score further.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating

About Royal London

Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £84.5 billion. Group businesses provide around 9.1 million policies and employ 2,988 people. (Figures quoted are as at 31 December 2015). Note that in order to open a scheme with Royal London, you will need an adviser.

For more information please visit the Royal London website

Tax Relief Status Relief at Source
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to Royal London.
Ease of use
Whilst Royal London does not yet support data automation, their traditional means of processing is relatively easy to use. However, Royal London only supports monthly contributions so we have reduced the score to reflect this. In addition, Other does not help to "rollup" contributions so we reduced the score further.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating

About NOW: Pensions

In collaboration with ATP of Denmark – one of the largest pensions funds in Europe and the Board of Trustee Directors, NOW: Pensions has set out to bring cost-efficiency, performance and simplicity to the UK pensions industry.

For more information please visit the NOW: Pensions website

Tax Relief Status Net Pay but NOW tops up by the basic tax rate for any non-taxpayers
Employee's perspective
This is a combined score for the provider for Employee Charge, Money Matters and Diverse Workforce scores
Employee Charge
There is an Annual Management Charge of 0.5% which is amongst the best for employees.
Money Matters Score
A wide range of funds is available for members who wish to manage their own investments. Similarly for members withdrawing funds, there is a good range of options. There are no restrictions on contributions or transfers.
Diverse Workforce Score
There is no sharia fund and communications are in English only. We consider this provider is average for seasonal/transitional workers.
Payroll's perspective
This is an average score Ease of use and Customer support. We do not include Automation in the score as that impacts the availability of the provider instead.
Automation enabled
If you open a scheme with this pension provider then your payroll team will have to export member contribution data from Other and manually upload it to NOW: Pensions.
Ease of use
With their data automation and updated website for traditional methods, NOW: Pensions is very easy to use.
Customer support
Based on our experience and survey responses from payroll users, we rate the level of customer support as 4/5.
Employer's perspective
This is the combined score for Employer support materials and Employer Charge
Support materials
The support materials available are excellent, well laid out and simple to use.
Employer Charge
The employer charge is £100 per month which commences when the first person joins the scheme.
Expert's perspective
Defaqto Rating
'green' pension providers are seamlessly integrated with your payroll software, meaning you can electronically upload pension data securely and efficiently

! IMPORTANT

  • This selection of pension providers represents a sub-section of the pension providers in the UK market.

  • Our aim is to gather factual information about each pension provider (which could be obtained by a UK Employer themselves via the World Wide Web) and present that information onscreen alongside opinions and feedback collected from 3rd parties and our employees.

  • This selection of pension providers is not an exhaustive list of pension providers that can accept applications for new schemes from UK Employers.

  • Our company (systemsync solutions ltd) reviews the information we collect on pension providers at frequent intervals and has taken reasonable steps to ensure the information presented here is factually correct on this date: 04 September 2018

  • All use of Defaqto Ratings is subject to licensed terms. To read in full, follow this link

  • If you believe any information presented here is mis-leading or inaccurate please contact us