Why does my statement show less contributions than I've made?
The statements issued in January 2017 cover the period from the 1st of April 2015 until the 30th of June 2016.
Any contribution/s made after this date will not be included in your annual statement.
You can however log on to your personal Smart Pension portal at any time to view all historic contributions.
Please note that the contributions & Net Asset Values disclosed in the statements are based on employer payroll submissions uploaded and settled during the reporting period. Therefore, any omissions, duplications, late payments or non-compliance will result in the amounts disclosed being incorrect.
Why does my personal pension projection show as £0?
If you have recently left your employer, we do not expect any further contributions to be paid and this could result in your future pension projection appearing as £0.
Why is my personal pension projection so low?
The pension projection is based on payroll data received from your employer during the statement period. Where we do not have a full year of payroll data, or your earnings vary significantly from month to month, we use an estimate that may not be accurate.
Accuracy will improve when we have a full year’s payroll data.
Why have I been charged a fee?
Smart Pension is free for employers and great value for employees. We charge employees a small annual “Assets Under Administration” fee of just 0.75%. There are no transaction fees or other hidden charges. We keep our costs low by operating the UK’s most efficient pension platform.
Why is my statement late?
We must provide you with a statement each year no later than 7 months after the end of the scheme's financial year. Smart Pension’s financial year ended on the 30th of June, so statements will be issued before the end of January the following year.
I thought I had already moved my funds out of Smart Pension – why have you sent me an statement? / I have left my employer - why have you sent me a statement?
The value of your fund as it appears in the annual statement was correct on the 30th of June 2016. If you have drawn your pension, transferred your funds, left employment or received a short-service refund in the period 01/07/16 – 31/01/17, you will still receive an annual statement showing the value of your pension pot at the end of June 2016.