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Now I've opted out, how are my contributions refunded?
Now I've opted out, how are my contributions refunded?

How refunds work when you opt out of the scheme

Written by Smart Pension Support
Updated over a week ago

If you opt out of the scheme within a month of being automatically enrolled, you'll receive a refund on your contributions.

When you opt out, we email your employer, and they adjust their payroll to refund any contributions you've made. You'll receive your refund from your employer โ€“ we cannot refund you ourselves as we receive your contributions through Direct Debit from your employer.

I've opted out but I'm still seeing contributions on my payslip

You may see contributions deducted from your first month's pay after you opt out. This could be because your employer received your request to opt out after their payroll cut-off date.

If this is the case, you should get a refund for all the contributions you've made on your next pay date. Talk to your employer or payroll department to make sure they've definitely received confirmation you're opting out.

I've opted out but I haven't had a refund

If you leave your pension scheme more than a month after you were automatically enrolled, you're outside the opt out window. In this case, you have ceased membership and aren't eligible for a refund on the contributions you've made. You won't make any future contributions, and the contributions you've made will stay invested.

If you think you opted out within the opt out window but still haven't received a refund when you were expecting one, talk to your employer. They'll be able to tell you if you're eligible for a refund and when to expect it.

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