What should my employer do?

It's your employer's responsibility to advise Smart Pension you have ceased employment and provide us with a leaving date - they do this by directly updating your details via their account with us (here's how) or when they upload payroll data to our website.

What to expect and by when

Every month we will contact all leavers for the previous calendar month e.g. leavers in May should be contacted by the end of June etc. or on average 6-8 weeks after they leave employment.

This communication (by email if we have one for you) will tell you what choices are available to you based on:

  1. When you joined the scheme (and how long you contributed for);
  2. Your age;

What are my choices likely to be?

If you are below the age of 55 years you will have two main choices:

  1. Do nothing and leave your pension pot with us (we will continue to send you annual statements and tell you when you can draw your pension); or
  2. Transfer your pension to another scheme (e.g. your new employer's scheme if they have one);
  3. For some, who joined their scheme before 1 October 2015 and have less than 2 years pensionable service*, you may be entitled to a Short Service Refund. 

If you are aged 55 years or older, you can still Do Nothing or Transfer your pension but you are also able to access your pension - for what that means click here.

* Pensionable service may be different depending on which scheme you joined.

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