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Recommendations for Pension scheme for SME?

Hi

Am needing to put in place a pension scheme at an SME as part of auto enrolment. There are only 2 employees at present but likely to grow. Am looking at Aviva, NEST and Smart Pensions so far. Key is that it's low cost and works with Xero.

Any suggestions appreciated. 

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25th Feb 2019 10:30

The cost and working with Xero are probably not the ideal criteria for choosing a pension scheme ! .

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to meadowsaw227
25th Feb 2019 13:51

But to be fair that’s exactly the criteria every client and accountant is bothered about.

Long term investment returns are beyond our area of expertise (in fact against what an accountants regulatory body will allow) and I suspect that an IFA wouldn’t give much more useful advice

For what it’s worth virtually all my clients use NEST, except for one because they asked Sage, who in turn referred an IFA to them, who in turn charged £3,000 to set up a scheme.

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By DJKL
25th Feb 2019 14:58

Charging structure is surely of import in selection as ceteris paribus it will determine final returns for members.

The impact of compound fee charges over the life of any savings product can be enormous.

The AE providers do vary with these, within the Government strictures re what may be charged, so it is worth researching the different approaches to how applied re each provider.

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26th Feb 2019 14:49

The majority of my clients use NEST. I can submit the pension details and authorise payment to NEST directly from Brightpay which is very convenient. My clients not with NEST use either Smart Pensions, Now Pensions or The People's Pension.

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26th Feb 2019 14:51

Here's a thread on this subject you may find helpful -

https://www.accountingweb.co.uk/any-answers/which-pension-scheme-is-reco...

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