Smart Pension vs Other Pension Providers
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Single Employee Contributions & FeesCurrent ParliamentNext Parliament
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2016/172017/182018/192019/202020/212021/222022/232023/242024/25
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For illustrative purposes onlyTax Year OneTax Year Two
Tax Year Three
Tax Year FourTax Year FiveTax Year SixTax Year SevenTax Year EightTax Year Nine
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Average UK salary£27,200.00£27,200.00£27,200.00£27,200.00£27,200.00£27,200.00£27,200.00£27,200.00£27,200.00
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Discounted£5,824.00£5,824.00£5,824.00£5,824.00£5,824.00£5,824.00£5,824.00£5,824.00£5,824.00
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Relevant earnings£21,376.00£21,376.00£21,376.00£21,376.00£21,376.00£21,376.00£21,376.00£21,376.00£21,376.00
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Contributions (%)2.00%2.00%5.00%8.00%8.00%8.00%8.00%8.00%8.00%
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Contributions (£)£427.52£427.52£1,068.80£1,710.08£1,710.08£1,710.08£1,710.08£1,710.08£1,710.08
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Assets Under Management (AUM) investment growth*
3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%
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Smart Pension
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Year end AUM£427.52£866.21£1,956.01£3,713.89£5,513.53£7,353.45£9,234.57£11,157.80£13,124.09
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Average AUM in year£213.76£646.07£1,408.69£2,829.67£4,603.10£6,416.23£8,269.95£10,165.17£12,102.83
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Smart Pension fee (%)0.75%0.75%0.75%0.75%0.75%0.75%0.75%0.75%0.75%
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Smart Pension fee (£)£1.60£4.85£10.57£21.22£34.52£48.12£62.02£76.24£90.77
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Year end AUM ex fees£425.92£861.37£1,945.44£3,692.67£5,479.00£7,305.33£9,172.55£11,081.56£13,033.32
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NEST
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Year end AUM£427.52£859.28£1,943.96£3,688.22£5,468.58£7,296.92£9,174.55£11,102.79£13,083.01
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Average AUM in year£213.76£639.23£1,396.81£2,804.37£4,558.80£6,360.52£8,210.81£10,110.97£12,062.34
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Monthly fee£7.70£7.70£19.24£30.78£30.78£30.78£30.78£30.78£30.78
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AUM fee£0.64£1.92£4.19£8.41£13.68£19.08£24.63£30.33£36.19
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Total NEST fee (%)3.90%1.49%1.66%1.39%0.97%0.78%0.67%0.60%0.55%
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Total NEST fee (£)£8.34£9.61£23.43£39.19£44.46£49.86£55.41£61.11£66.97
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Year end AUM ex fees£419.18£849.67£1,920.53£3,649.03£5,424.12£7,247.06£9,119.14£11,041.68£13,016.04
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Smart Pension vs NEST
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Difference in fees£6.73£4.77£12.86£17.97£9.93£1.74-£6.61-£15.12-£23.80
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Accumulated difference in fees£6.73£11.50£24.36£42.34£52.27£54.01£47.40£32.28£8.47
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Difference in member AUM (post fees)£6.73£11.70£24.92£43.64£54.88£58.27£53.41£39.88£17.28
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Percentage difference in member AUM (post fees)
1.58%1.36%1.28%1.18%1.00%0.80%0.58%0.36%0.13%
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* for illustrative purposes only
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