NEST Pension Charges NEST Pension Charges
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  1. #1

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    Join Date
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    Default NEST Pension Charges

    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

  2. #2

    Should post faster

    DolanContractorGroup's Avatar
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    Default

    Quote Originally Posted by coder View Post
    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.
    Last edited by DolanContractorGroup; 8th January 2020 at 12:06. Reason: SW charges info

  3. #3

    Default

    Quote Originally Posted by coder View Post
    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.

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