NEST Pension Charges

[coder]

Hi

Ive been looking at Umbrellas with pension options, and most are signed up to NEST in some form or another

Is it me or are the charges ridiculously high on NEST - 1.8% in and 0.3% annual fees -

Nest Pensions Charges | Nest Pensions


Has anyone found umbrellas with lower cost options for salary sacrifice?

Thanks

[DolanContractorGroup]

Hi

Ive been looking at Umbrellas with pension options, and most are signed up to NEST in some form or another

Is it me or are the charges ridiculously high on NEST - 1.8% in and 0.3% annual fees -

Nest Pensions Charges | Nest Pensions


Has anyone found umbrellas with lower cost options for salary sacrifice?

Thanks

Hi coder,

Many umbrella companies went with NEST at the start but have slowly moved to others that have worked better for them.

Over here at Contractor Umbrella we chose to go with Scottish Widows, which not only has lower charges, but our scheme allows for flexible contributions rather than the fixed 5% and 3% (currently).

Any questions, please don't hesitate to ask.

Kind regards


Zeeshan

EDIT: I've just checked again from my older forum posts, and Scottish Widows previously advised that the Annual Management Charge is 1% and there is no contribution/investment charge.

[contractor_coop]

Hi

Ive been looking at Umbrellas with pension options, and most are signed up to NEST in some form or another

Is it me or are the charges ridiculously high on NEST - 1.8% in and 0.3% annual fees -

Nest Pensions Charges | Nest Pensions


Has anyone found umbrellas with lower cost options for salary sacrifice?

Thanks

Have a look at The People's Pension.

Compare auto-enrolment providers | Pension plan options | The People’s Pension

There are no contribution charges and the Annual Management Charge is only 0.5%.

They do salary sacrifice and quite a few umbrellas use them.